Jump in Donegal Creameries pre-tax profits

Donegal Creameries today reported a €1.9m increase pre-tax profits for the six months ending June 2006.

The €3m figure consists of an improvement in operating profit from €550,000 to €1.14m and an improved return in the property development business from €600,000 to €1.9m.

Turnover increased by 5% to €57.4m, driven by improved sales of agribusiness and added value dairy products.

Earnings per share improved by 14.4c to 23.3c, an increase of 162%, leading to a 10c jump in share price to €4.40.

An interim dividend of 6c is to be paid, an increase of 9% on 2005 figures.