Co-op’s fortunes on the rise

DRINAGH Co-op expects to improve on its satisfactory 2010 performance with its plans for suppliers to increase milk output by 40% when the quota era ends in 2015.

The west Cork company’s 2010 results show a healthy turnaround following a difficult three years for the dairy sector.

Turnover surged to €81.3 million, up from €67.7m in 2009, delivering a near 150% lift in profit after tax to €3.75m, from €1.44m in 2009. Milk bonuses of €2m were paid out during 2010.