Profits up at Kerrygold firm
Ireland’s largest exporter of Irish dairy products today announced a 23% rise in profit before tax in 2014.
Profits at Ornua Co-operative Limited, formerly known as the Irish Dairy Board, rose to €28.1m last year, up from €22.8m in 2013. The company also announced a 10% rise in turnover to €2.34bn in 2014.
In the last full year before the abolition of EU milk quotas, group operating surplus at Ornua also announced stood at €30.3m, up from €25.8m in 2013.
Ornua supplies dairy branded products and ingredients into over 110 markets around the world, selling hundreds millions of packets of its popular Kerrygold brand each year.
Commenting, Kevin Lane, Ornua CEO said: “In addition to an excellent financial performance, 2014 was a year in which we significantly increased the capacity of our business through brand growth, innovation and in-market investment. We enter into this new era for Irish dairying in an excellent position, with a strongly performing organisation, geared for growth.”
