Irish Dairy Board gearing up for post-quota opportunities

The Irish Dairy Board’s accounts for 2013 show a company gearing up for the growth opportunity presented by the post-quota era.

Led by record sales of its Kerrygold brand, the IDB last year sold €2.1bn worth of Irish dairy goods in overseas markets. Along with this 5% rise in turnover, it yesterday unveiled an operating surplus (EBIT) up 25% to €25.8m, and pre-tax profits up 87% to €22.8m.

“We are pleased that we achieved these results while also investing €7m in our brand and in new market development,” said IDB chief executive Kevin Lane. “We also returned a product price 7% higher than the European LTO equivalent.