Bright outlook for Connaught Gold

SIGNIFICANT changes in the operations of Connacht Gold have been signalled by the co-op, which described its performance in 2003 as a healthy improvement on the previous year.

The society had an operating profit of €2.17 million compared with an operating loss of €1.10m in 2002. Turnover rose by 7.4% to €269.5m. Pre-tax profit was €1.7m.

Chief executive Aaron Forde said the primary policy aim of the society was to return a competitive milk price to suppliers and to retain and increase milk volumes processed. Concurrently adequate returns had to be generated from all operations to reinvest in the development of the business.