Donegal Creameries has reported what it called robust half-yearly profits this morning. It said its revenues rose by 4.9% to €60.6m with profit from continuing operations for the period up by €2.5m to just over €4m.
Operating profits for the six month period to the end of June increased by €1m from €0.4m to €1.4m, while the company's net debt has been reduced by €2.1m from €22.2m to €20.1m.
The company maintained its interim dividend at seven cent.
'We have had a satisfactory performance in our dairy division and the produce division is well positioned to deliver a solid performance for the year', the company said in its results statement.
'The difficult trading circumstances encountered by the agri-inputs division in 2009 have been resolved and we are placed to report the business is back on track,' it added. Its associates, especially Monaghan Mushrooms, continued to perform strongly, the company said.
Looking ahead, the company said it remains confident of 'delivering a solid full year performance.
'Progress continues to be made in all key strategic areas with good growth plains in place. Strategic acquisitions are being evaluated at the group continues to develop its added value dairy products and produce business.
Shares in the company closed up 11.9% at €3.75 in Dublin.
