Companies

Profits fall sharply at Carbery Group after difficult year for dairy markets

The West Cork co-op also reported a double-digit decline in full year sales

Carbery’s full year sales declined by 12 per cent last year to just over €616 million

Carbery Group, the farmer-owned company based in West Cork, recorded a double-digit drop in profits last year on the back of falling international prices for dairy products.

Announcing results for 2023, the West Cork dairy firm reported a 26 per cent fall in full year operating profits to just under €20 million, as profit margins narrowed to 3.2 per cent. Earnings (Ebitda) for the year fell 11 per cent to €46.4 million, while pre-tax profits ...