'Difficult' conditions at Donegal Creameries as profits slump

Food co-op Donegal Creameries saw a 55.6% slump in pre-tax profits to €2m for the year ending December 2004, from the restated figure of €5.1m in 2003, the group announced today.

Group turnover fell to €118.3m, down 12% from €134.5m, in large part due to the merger in June 2004 of the group's mushroom operations, Carbury Mushrooms, with Monaghan Mushrooms.