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...

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