Dairygold reports losses of E39.4m

DAIRYGOLD incurred losses of E39.4 million before tax in 2003 compared to profits of E2.3 million in 2002.

Results for last year show most of the loss is attributed to the huge rationalisation drive undertaken last year, which resulted in 825 jobs being axed.

The group continues its drive for operating efficiencies across its businesses and should result in further major losses in the current year.