Operating profits halved in 2015 at Centenary co-op to €421,713, principally as a result of milk price and grain price supports. Turnover decreased marginally (1.9%) to €79.5m. Retained profit for the year amounted to €648,000. Profits were boosted by a dividend income of €726,550 it receives from the co-ops investments including its 2.7% shareholding in Glanbia co-op.
The co-op’s investments include Aryzta, Glanbia, One51. Its Glanbia and Aryzta shares are valued at around €20m.