Dairy Board’s profits rise by 29%

Innovative products and an equally unique €350m loan facility have set the Irish Dairy Board on a solid footing for anticipated post-milk quota growth.

The IDB yesterday unveiled a 29.1% rise in pre-tax profits to €20.9m for 2011, built on €2bn in revenues, up 5.2%.

The group’s net Capex and acquisitions investment is up 79% to €29.5m, a sign of its expansion plans. The IDB’s members will also be happy, having received €12.9m in payouts, a 9.3% rise.