The Cooney Furlong Grain Company, which is based in Co Wexford, saw pre-tax profits soar by more than 50% in to reach just over €1.9m. This strong rise in profits was driven by a €400,000 dividend received from Target Fertilisers, a subsidiary company which is 50% controlled by Cooney Furlong.

Sales for the year declined by 3% to just under €60m. Operating profits increased by 8% during 2017 to just under €1.8m, as profit margins widened to 2.9% last year. The net asset value of the business grew by €1.7m in 2017 to reach €13.7m. Formed in 1998, Cooney Furlong is run by Kevin Cooney and Walter Furlong.

The company takes in more than 100,000t of grain every year and is a supplier of dried grain to the brewing, malting and distilling industries. In 2013, Cooney Furlong acquired three retail branches previously run by Wexford Farmers Co-op. The company was recently appointed the southeast dealer for Case tractors, Krone machinery, Amazone and Quicke.