Donegal Creameries report profit rise

DONEGAL Creameries yesterday reported a 16.6% rise in pre-tax profits on the back of higher dairy prices.

The company said turnover for the six months to end June was up just 1.8% from €67.6 million to €68.7m, but pre-tax profits were ahead at €4.05 million with higher dairy commodity price and gains on the sale of property boosting profitability.

The company said the turnover figure was up primarily due to increased prices from sale of manufacturing milk reflecting higher commodity dairy prices during the period.