Food group Donegal Creameries has reported pre-tax profits of €5.9m for last year, an increase of 2% on the previous year, despite a marginal drop in sales to €134.7m.
Earnings per share were up 4% to 49.2 cent and a 5% higher dividend of 12 cent has been declared.
The drop in turnover was blamed on lower sales in the company's mushroom joint venture, which was hit by the stronger euro. Sales also fell in the group's agri-retail stores and in its animal feed business, but dairy sales rose by nearly 10% to €47.9m.
Donegal Creameries says trading conditions in some of its operations have been difficult in the first quarter of 2004, particularly in the dairy and retail stores divisions, though it believes it will deliver a 'satisfactory' performance.
