Dairy group Donegal Creameries has reported pre-tax profits of just over €4m for the first half of this year, an increase of 16.6% on the same period a year earlier.
Turnover was just under 2% higher at €68.8m, mainly because of higher dairy prices, while earnings per share grew by 17% to 33.1 cent. The group's profits were helped by the sales of surplus assets and investments. A 5% higher interim dividend of 5.25 cent is to be paid.
In the dairy division, the higher prices boosted turnover by 8% to €23.9m, but turnover in the agricultural and other trading division fell 1% to €44.9m, mainly because of lower sales prices in Carbury Mushrooms.
Seasonal factors also affected turnover and profits at the group's potato operations. Shares in the company were 10 cent higher at €3.35 in Dublin this afternoon.
