Carbery Group profits rise to €13m

The Cork-based Carbery Group’s pre-tax profits rose by 17% to €13m last year as revenues increased by 12% to a record high of €318.3m.

In his report, group chief executive Dan Mac Sweeney said the increase in revenues was underpinned by the growth in the group’s cheese and ingredients divisions.

Mr Mac Sweeney said the group’s operating profits increased from €12.4m to €16m, and “this performance was recorded after declaring a year-end bonus of 0.5c per litre on all 2013 milk supplied”.