Teagasc reports €1m loss as total income tops €173m

Agriculture and food development authority Teagasc made a loss of almost €1m in 2011, after recording a surplus of €3.4m in 2010.

The 2011 Teagasc annual report and financial statements show the agency made a loss of €959,000 in 2011, compared to a surplus of €3,387,000 in 2010.

Total Teagasc income for 2011 amounted to €173.3m excluding net deferred funding for pensions. Current expenditure, excluding net deferred funding for pensions, amounted to €174.2m.