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Ornua's profits and revenues up
21 Apr 2015 08:08
Ornua Co-operative, formerly known as the Irish Dairy Board, has reported pre-tax profits of €28.1m for last year, up 23% on the year before.
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Turnover at Ireland's biggest exporter of dairy products, and owner of Kerrygold, was 10% higher at €2.34 billion.
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On the back of this performance, a €12m bonus for declared for members. This includes a cash bonus of €7.5m, up 15% on the previous year.
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Over the year Ornua said it spent €36m on brand development and market support.
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Despite the recent removal of dairy quotas, Ornua said it recognises that market conditions are challenging.
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