Tipperary Co-op sales fall 9% to €102m

SALES at Tipperary Co-op fell by 9% last year to €102 million, due mainly to lower prices for dairy products and reduced throughput at its French subsidiary Tippagral SA.

However, chairman Sean Murray said operating profits at €1.02 million, just 1% of turnover, were satisfactory in a year of poor dairy markets and when the co-op gave significant support to milk prices.

The co-op achieved a cash inflow of €3 million in 2002. Shareholder funds stood at €22.99 million at year end, following the transfer of €787,000 to reserves.