Co-op Connacht Gold has reported gross profits of €64m for last year, up from €60m in 2005, on 13% higher turnover of €309.3m. Operating profits were flat at €3.2m.
Turnover in the co-op retail and foodservice division rose from €34.8m to €38.5m, while agribusiness sales were up from €73.3m to €89.8m, boosted by the acquisition of the feed milling business of Thomas McDonagh & Sons.
In the dairy ingredients division, turnover climbed from €72.5m to €77.2m, while marts and property turnover rose from €59.9m to €66.9m.
Chief executive Aaron Forde said the business was continually looking for suitable investment opportunities. It already has interests in IAWS, One51, FBD and Mid West Radio.