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The Donegal
Creameries food group, which owns Grianan Estate in
Burt, has reported pre-tax profits of €4.1m for
2006.
This was up 15% on the 2005 figure, helped by a €2m
property sale and a 'significant improvement' in all
areas of its business.
Turnover was up 6.2% to €118.6m. Earnings per share
grew by 51% to 27.5 cent and a final dividend of 8c
will result in an 8% higher total of 14c for the
year.
A breakdown of the figures show that turnover in the
dairy division was flat, while agribusiness sales
were 11% ahead, helped by a strong performance in
the group's potato business.
Meanwhile, Donegal Creameries spent €4.9m on buying
properties during the year, including 22 acres in
Letterkenny. Rental income rose by 20%.
The company said the trading outlook for 2007 was
good after a 'satisfactory' start.
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