Aurivo Co- op profits rise despite drop in revenues

Aurivo Co- Op saw their operating profits rise by 25 per cent last year to € 3.6m, despite a 7 per cent drop in revenue to ¤ 391m.

The co- op’s net debt also almost doubled from ¤ 8.6m in 2015 to ¤ 16.6m due to their purchase of the ‘ For Goodness Shakes’ brand and shares in KerryGold Park, the Mitchelstown butter- packing facility which was controversially moved from Achonry last year.

The co- op’s Agri- business turnover dropped by 4 per cent to ¤ 97m due to reduced fertiliser pricing, less disposable income among farmers and poor weather conditions.

Marts also suffered a 9 per cent drop in turnover last year to ¤ 78.5m due to poor cattle prices and bad weather.

Dairy foods performed well however, rising by ¤ 8m to sales of ¤ 88m.

“In what was a challenging year we are pleased to announce a robust performance. Our focus was twofold - to support suppliers and deliver efficiencies across the business,” said Aurivo Chief Executive Aaron Forde.