Dairygold posts €16m fall in profits following 'difficult year' for sector

Cork co-op said fall in profit resulted from its response to rising costs, adding that it paid "strong milk and grain prices to suppliers" 

Michael Harte, Ann Fogarty and Sean O Brien, Dairygold Annual Report 2023 Photography By Gerard McCarthy

A challenging twelve months for the dairy and tillage sector saw turnover at Dairygold drop by more than €250m as poor weather and growing costs created a "perfect storm" for the industry. 

Publishing its financial results for 2023, the Cork co-op posted a turnover of €1.4bn, a decrease of more than 15% on the previous year which it said reflected the "significant fall" in market returns over the year.