Creamery hit with 11% fall in profits

FIRST-half pre-tax profits at Donegal Creameries fell by nearly 11% to €3.6 million compared with the same period last year, the company reported yesterday.

Operating profits plunged by 32% to €1.9m, with the company blaming difficult trading conditions in the dairy sector.

Turnover decreased by 5.2% to €65.2m in the six month period ended June 30, 2004 when compared to the same period last year, primarily due to lower sales in the agricultural and other trading sectors.