Nenagh-based co-op Arrabawn recorded a €1.6m loss for its 2019 financial year after the dairy co-op took an impairment charge of €1.4m on the sale of a decommissioned animal feed mill in Thurles.

Excluding this once-off charge, Arrabawn’s operating profits more than halved last year to just over €1m, as operating profit margins in the business fell from 0.9% in 2018 to a very slender 0.4% last year. Earnings (EBITDA), which is an important metric for the co-op, fell by 9% last year to €7.5m.