Aurivo's full-year results reflect the incredibly volatile year that was 2022. Revenues increased 34% to €764.2m, while operating profit jumped 41.2% to €17.8m.

Average milk price over the year was 61.4c/l, with milk pool rising 2.4% to 514 million litres.

The co-op's Connacht Gold brand butter showed continued growth, while its For Goodness Shakes sports nutrition brand saw a 41% revenue increase on 30% higher volumes.

Aurivo chief executive Donal Tierney said: “The year under review was an exceptionally challenging one, with significant inflationary pressure and volatility causing added uncertainty both on farms and within our co-operative.

"Despite these challenges, Aurivo delivered a record financial performance – building on its continued growth over the past five years."