Companies
Profits at Connacht Gold owner Aurivo plummet 93% in 2023
Revenues at the agricultural co-op tumbled amid a ‘sharp deterioration’ in dairy prices and a weather-delayed start to fertiliser spreading season
Post-tax profits at Aurivo, the Irish agricultural co-operative, fell 93 per cent in 2023 amid a “tough year” for the firm.
The Sligo-based firm, which is behind Connacht Gold butter and a member co-operative of Ornua, the owner of Kerrygold, saw profits tumble to €997,000 last year, down from €13.6 million in 2022.
The decrease in profits was punctuated by a fall in revenue, down 16.4 per cent to €638.6 in 2023 million from a ...