Co-Operative Animal Health Ltd (CAHL), the Tullow-based wholesale veterinary business, reported a pre-tax loss of just over €62,000 for its 2016 financial year. While CAHL made a pre-tax loss in 2016, the financial performance of the business is much improved on the previous year when pre-tax losses exceeded €0.5m.

CAHL described the market environment in 2016 as “challenging”, with low milk prices in particular having a negative effect on the business.

The company returned a marginal operating profit of just under €3,300 for 2016, compared to the €440,000 operating loss the previous year. Sales for 2016 were flat at €31.4m, with the majority of these sales (92%) generated in Ireland. CAHL reorganised its business in 2015, which resulted in restructuring charges of close to €373,000.

CAHL was founded in 1972 as a 50:50 joint venture between Dairygold and Glanbia. The company manufactures animal nutrition licks, minerals and boluses at its Nutribio facility in Cork.