Dairygold €19m profit down 34%

Dairygold says it will continue to give its suppliers a strong milk price during 2016, despite global market pressures having driven its 2015 profits down 34% to €19.2m from €28.6m in 2014.

The co-op paid €20m in milk price top-ups to its 3,000 suppliers in 2015. The company’s net asset value rose €19.4m to €315.5m.

In 2015, it invested €50.9m in the business, the latest tranche of €215m invested in the past seven years to process extra post-quota milk.