Donegal Investment Group reports €200,000 drop in revenue

first_img WhatsApp Twitter Important message for people attending LUH’s INR clinic WhatsApp Pinterest Facebook Google+ Donegal Investment Group reports €200,000 drop in revenue The Donegal Investment Group, formerly Donegal Creameries has reported a €200,000 decrease in revenue to €76.2 million for the past 12 months, ending 31st August 2018.Meanwhile, trading profits are said to be marginally ahead of the previous year at €4.7 million with adjusted operating profit decreasing by €700,000 for the year to €4 million.The Donegal Investment Group is reporting a 4% increase in pre-tax profit.However, revenues fell as the company says poor weather resulted in lower than expected yields leading to a reduction in availability of seed potato with volumes then sold lower than planned.Revenue in the produce division dropped €3.8 million to €25.7 million as the company restructured its Brazilian business and discontinued some local growing activities.The company’s food-agri and property division delivered revenue of €50.3 million with its Nomadic yogurt brand and animal feeds.The board says they are satisfied with the group’s trading businesses performance and the return of €45 million in capital to shareholders in May 2018.At the start of the year the Donegal Investment Group received more than €45 million for the sale of their 30% share in Monaghan Mushrooms.Following that return of capital the group had a cash position net of debt of €100,000 at the year end, down from almost €7 million in 2017. Google+ Facebook Nine til Noon Show – Listen back to Monday’s Programmecenter_img By News Highland – November 29, 2018 News, Sport and Obituaries on Monday May 24th Previous articleSuccess of DCC’s smoke free playgrounds initiative highlightedNext articleLetterkenny named Ireland’s most enterprising town News Highland RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews DL Debate – 24/05/21 Arranmore progress and potential flagged as population grows Loganair’s new Derry – Liverpool air service takes off from CODA Pinterest Twitterlast_img read more