Co-op ‘firmly on course’ after 33% rise in operating profits to €27.3m

Dairygold has reported a record operating profit of €27.3m for 2013, up 33%, with revenues up 16% to €847m, and a record milk intake up 4% to 959m litres.

The co-op paid its suppliers and trading customers a €7.5m bonus for the year ending March 31. On top of this 0.5c per litre bonus, it also paid its milk suppliers a market leading 38.1cpl monthly average.

The co-op’s five-year view showed profits near trebling from €11.8m, cumulative investment rising from €23.6m to €113.1m, and net asset value climbing from €221m to €274m.