Dairygold has today (4 April) announced 'strong' financial results with an operating profit of €32.4 million in 2017 up from €17.5 million in 2016.
Ireland’s largest farmer owned dairy co-operative generated a turnover of €965.5 million which is up 28% on the prior year, according its annual results for the year ended 31 December 2017.
Dairygold recorded a turnover of €965.5 million last year compared to €756.1 million the year previous.
The company head-quartered in Michelstown in Cork said in a statement that it delivered an earnings before interest, tax, depreciation and amortization (EBITDA) of €52.8 million in 2017, up from €39 million in 2016.
“I am pleased to report that Dairygold delivered very strong financial results in 2017, buoyed by a robust performance across all its businesses,” said Jim Woulfe, CEO of Dairygold.
“A solid foundation of dairy investment has delivered increased milk processing capabilities and is enabling sustained business development.”
The group outlined that its strong financial results in 2017 was 'buoyed by a robust performance across its dairy and agri businesses'.
In its stakeholders presentation, Dairygold highlighted that dairy markets were 'significantly stronger' than in 2016 'driven by butter returns' as dairy protein prices remained weak.
© 2018 - Checkout Magazine by Donna Ahern