Donegal Daily
  • News
  • Sport
  • Courts
  • Jobs
  • Business
  • Lifestyle
  • Travel
  • Politics
  • Features
  • Donegal County Council News
Sunday 16°CMonday 17°C

Donegal Daily Donegal Daily

sponsor banner
sponsor banner
  • News
  • Sport
  • Courts
  • Jobs
  • Business
  • Lifestyle
  • Travel
  • Politics
  • Features
  • Donegal County Council News
BusinessNews

Revenue rises to €45.2m at Donegal Investment Group

written by Rachel McLaughlin November 28, 2019
FacebookTweetLinkedInPrint

Revenue rose by 11.4% to €45.2m last year at Donegal Investment Group, formerly Donegal Creameries.

The group enjoyed soaring segmental profit, with a 47% increase to €4m in the year ending 31 August 2019.

The strong performance has been put down to continued double-digit growth in the speciality dairy business Nomadic, as well as strong demand for their produce businesses’ seed potato varieties.

Group profit from operating activities (before exceptionals) increased by 61.6% (€1.3m) for the year to €3.4m.

The latest financial results report from Donegal Investment Group, published today, says the sale of its animal feeds business Robert Smyths and Sons was a success.

DIG Chairman Geoffrey Vance commented: “The Board is very pleased by the performance of the Group’s trading businesses over the course of the year as well as the successful completion of the sale of our animal feeds business Smyths.

“Adverse weather conditions in European growing areas impacted the 2018/2019 potato crops which led to poor availability of seed in the wider market. Our seed potato business experienced growing demand for its proprietary varieties which combined with strong trading margins delivered an excellent performance for the year. We continue to invest in the development of innovative seed potato with six new varieties commencing commercialisation in the coming year.

“Speciality dairy continued to experience double digit (volume and sales) growth in both the UK and Ireland in 2019 with a significant capital project currently underway which will double capacity in our Killygordon based business.

“Overall, Group revenue was €45.2m for the year with operating profit of €3.4m. This resulted in adjusted earnings per share of 89.3c, an increase of 61.9c on the 12 months to 31 August 2018.

“Following the completion of the sale of Smyths and the underlying performance of our trading businesses the Group had a cash position, net of debt, of €21.3m at year-end with a net asset value per share of €8.03, an increase of €1.19 per share on the prior year.

“The Group will continue its strategic review to assess all options available to the Group to maximise shareholder value, and shareholders will be updated at the appropriate time.”

Revenue rises to €45.2m at Donegal Investment Group was last modified: November 28th, 2019 by Rachel McLaughlin
FacebookTweetLinkedInPrint

Tags:
Donegal CreameriesDonegal INvestment Group
Rachel McLaughlin

LEAVE A COMMENT

You may also like

Pvt Sean Rooney’s inquest hears Defence Forces...

9 minutes ago

Traffic advice issued ahead of annual Conwal...

33 minutes ago

Blaney family celebrates 100 years as Donegal...

15 hours ago

Rory Gallagher Festival gets green light for...

18 hours ago

Buncrana driver with no insurance, tax &...

18 hours ago

Donegal creatives invited to Artlink information evening

19 hours ago

Community fundraiser launched to support family of...

20 hours ago

Calling all Dohertys – O’Dochartaigh Clann Association...

21 hours ago

Letterkenny man said €1,500 of drugs was...

23 hours ago

Buncrana hit with water outages after burst...

24 hours ago
Advertisement
Advertisement

Donegal County Council

Facebook
Donegal County Council
Advertisement
Advertisement
Donegal Daily Jobs

Read More

  • News
  • Sport
  • Courts
  • Jobs
  • Sales & Services
  • Obituaries
  • Features
  • Business
  • Politics
  • Council News

Information

  • Contact Us
  • About
  • Advertise WIth Us
  • Privacy Policy
  • Disclaimer
  • Terms & Conditions

Our Sites

Donegal Woman
Donegal Woman
Donegal Daily

© 2025 Donegal Daily. All rights reserved.
Website by owenod


Back To Top.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.