Dairy sector must build on its good results

Financial results recently from the two big dairy co-ops in Ireland — Dairygold and the Irish Dairy Board — reflect renewed monetary muscle within the co-operative movement.

How that largesse is deployed will play a key role in how the industry shapes itself for the challenges that lie not too far ahead.

Dairygold increased its profits by 33% during 2013 and in so doing continued to strengthen its balance sheet while paying bonuses for its member shareholders. With debt levels under firm control and dairy markets remaining solid during the first quarter of 2014, the co-op seems set to continue performing well this year.