Ornua records 50% increase in profits despite US tariffs on Irish butter

Consumer demand for butter soared after home baking emerged as a trend of 2020

21st April, 2021
Ornua records 50% increase in profits despite US tariffs on Irish butter
Kerrygold has grown into Ireland’s only food brand with annual sales in excess of €1 billion. Picture: Getty

Ornua, the Irish dairy co-op which owns the Kerrygold butter brand, recorded significant profit growth last year despite the twin challenges of Brexit and a 25 per cent tariff on Irish butter exported to the US.

Announcing full-year results, Ornua reported a 50 per cent increase in earnings (EBITDA) to just over €107 million, as earnings margins increased from 3.1 per cent in 2019 to a steady 4.6 per cent last year.

Ornua made an operating profit of €83.1 million...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

How Kinzen is aiming to create a vaccine for the ‘infodemic’

Irish firm aims to combat climate change with carbon-eating mechanical trees

Companies Barry J Whyte 5 hours ago

Irish e-scooter firm clears €400k crowdfunding target

Companies Emmet Ryan 5 hours ago

Glanbia shares hit two-year high on back of positive Q1

Companies Lorcan Allen 5 hours ago