Dairygold Co-op saw a slight decline in profits in its UK business for 2016. Accounts for Dairygold Food Ingredients UK show the business recorded a 3% decline in operating profits in 2016 to £1.3m (€1.5m), as profit margins fell slightly to 1.6%. Dairygold said this was a result of a small increase in operating costs for the year.
The business recorded a 2% increase in sales to £84.5m (€96m), primarily as a result of increased sales volumes. Pre-tax profits were back 23% to €0.8m.