Connacht Gold has reported a 16% increase in revenues for 2011, while operating profits for the year also rose slightly.
The dairy, consumer foods and agri-business co-operative said that turnover increased to €345m from €296m in 2010.
Operating profits inched higher to €3.29m from €3.24m the previous year.
It said this was mainly due to a substantial rise in the value of fairy ingredients sales and a record year for sales in its livestock marts business.
Turnover at its dairy ingredients business jumped by almost 40% from €60m to €83.5m while sales at its four marts - Balla, Ballinrobe, Ballinrobe and Mohill - rose by 30% to €90m.
The co-op also said it managed to reduce its net debt from €18m to €7.8m due to an improved working capital position, continued focus on operating costs and proceeds of a share disposal.
Connacht Gold's chief executive Aaron Forde said the business continues to invest heavily across all its divisions. ''The acquisition of the milk and retail stores businesses from Donegal Creameries at the end of the year will grow the business significantly and consolidate our position in consumer foods, dairy ingredients and retail stores,' he added.
He said the emphasis on 2012 will be on consolidating the enlarged business and ensuring that its customers, members and suppliers benefit.
Connacht Gold employs 726 people in 52 locations in the west and northwest areas of the country. It has 1,000 milk suppliers in 10 counties and an annual milk pool of 370 million litres. It exports products to 20 countries.
