Donegal Creameries report half yearly profits of 3.6 million euro

Donegal Creameries plc  Interim results for the six months of this year show the company show it made an after tax profit of 3.6 million euro.

The company welcomed the results saying its diversified business portfolio has again demonstrated its effectiveness in delivering solid results.

Total revenue for the company in the first half of the year was 60.5 million euro up almost 5% on the first half of last year.

Total profit, after tax for that period was 3.6 million euro while the company reduced its net debt by just over 2 million euro.

Turnover in the company's dairy sector was up almost 23 %, despite difficult conditions in the Agri-inputs sector figures were up 4.7%.

Produce was down on last year but the company expects a strong full year performance with its Organic sales and Irish Potato Marketing.

The company says it is pleased with how its property portfolio is performing and overall the board says it remains confident of delivering a solid full year performance.