DeLaval Ireland, the Irish subsidiary of the Swedish milking machine manufacturer, reported a pre-tax loss of €36,000 for its 2016 financial year. The company had reported pre-tax profits of more than €4m a year previous.
Accounts filed with the Companies Office show that operating profits for DeLaval Ireland plunged to just €27,000 in 2016 as profits margins were eroded to a wafer-thin 0.3%. Sales for the year fell more than 20% to just over €10.7m, while net assets in the business fell to €845,000.
DeLaval Ireland attributed the decline in profits and sales to the weak market conditions in Ireland during 2016, when farmgate milk prices were on the floor. The company also described the Irish market for milking machines as intensely competitive.
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DeLaval said the strongest growth in the Irish market will be from the sale of robotic milking systems. It added that sales of traditional milking systems will continue to grow but to a lesser extent than robots.
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DeLaval Ireland, the Irish subsidiary of the Swedish milking machine manufacturer, reported a pre-tax loss of €36,000 for its 2016 financial year. The company had reported pre-tax profits of more than €4m a year previous.
Accounts filed with the Companies Office show that operating profits for DeLaval Ireland plunged to just €27,000 in 2016 as profits margins were eroded to a wafer-thin 0.3%. Sales for the year fell more than 20% to just over €10.7m, while net assets in the business fell to €845,000.
DeLaval Ireland attributed the decline in profits and sales to the weak market conditions in Ireland during 2016, when farmgate milk prices were on the floor. The company also described the Irish market for milking machines as intensely competitive.
DeLaval said the strongest growth in the Irish market will be from the sale of robotic milking systems. It added that sales of traditional milking systems will continue to grow but to a lesser extent than robots.
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