Teagasc reports losses of €11m for last year

TEAGASC, the agriculture and food development authority, made a loss of just under €11 million in 2009.

That compares with a deficit of just over €12m the previous year.

When cash balances of over €18.9m at the beginning of the year are included, the agency ended up with a surplus of €7.9m in the year to December 31, 2009.