Companies

Turnover and profit fall at Dairygold due to ‘significant’ decline in market returns

Operating profit at the Cork-headquartered co-op fell to €23.9 million

Michael Harte, Dairygold interim chief executive, Ann Fogarty, group company secretary, and Seán O’Brien, chairman, at the announcement of the company’s 2023 annual results

Turnover at Dairygold, Ireland’s largest co-operative, fell to €1.4 billion last year, a decrease of €254.7 million on 2022, according to the latest results from the group.

The co-op said the decline was primarily due to the “significant fall” in market returns over the course of last year.

Operating profit at the Cork-headquartered co-op fell to €23.9 million, down 40 per cent year on year, while the group’s earnings before deductions was €55 million in ...