Dairy co-operative Aurivo posted strong results today (10 April) for 2016 despite 'significant challenges', namely continued global milk price difficulties and Brexit.
The group outlined that it performed strongly 'in terms of revenue generation, profitability and business development.' It posted annual revenues at €391 million and operating profit (before exceptionals) at €3.56 million.
Commenting on Aurivo’s results, chief executive Aaron Forde said: “In what was a challenging and volatile year, we are pleased to announce a robust performance by Aurivo across all facets of its business in 2016.
"The year was a difficult one for the dairy farmer and farming in general as the collapse in milk price continued well into the year before stabilising in July. With this and general all round economic uncertainty as a backdrop, our focus was twofold – to support our suppliers, while at the same time focusing on delivering efficiencies across the business to safeguard its continued financial and operational success."
The co-operative showed a strong performance in its consumer foods business with 21% increase in liquid milk volume which it attributed to new retail partnerships, most notably with Tesco, and through year on year growth for its Connacht Gold brand.
Aurivo also highlighted that its sports nutrition business through the For Goodness Shakes business grew in 2016 with volumes up.
“The current year is a better and more sustainable one for the agri sector. With our excellent and innovative team of people, operating efficiently through a philosophy of sustainability, we will continue to enhance our business development and execute our growth strategy.” Forde concluded.
© 2017 - Checkout Magazine by Donna Ahern