Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
TURNOVER WAS UP nearly a fifth at Ireland’s largest exporter of dairy products after a record year in some of its most important foreign markets.
Ornua, which makes Kerrygold and was formerly known as the Irish Dairy Board, recorded a pre-tax profit of €29.1 million last year, an 84% increase on 2016, after turnover rose by €320 million to pass the €2 billion mark.
The agriculture manufacturer, which exports to 110 countries worldwide, had a record year in Germany and the US after registering double-digit growth in exports into these markets.
Worldwide, the firm launched 34 new products – including a shredded cheese range in Germany – as part of its strategy to diversify a brand traditionally known for its butter.
Ornua’s ingredients division also had a record year in the US, while in the Middle East it expanded its white cheese product offering into the United Arab Emirates, Kuwait and Oman.
Speaking on Morning Ireland, Ornua boss Kevin Lane said the group was pleased with the financial results for what he considered a “volatile year”.
“If farmers look back at 2017 they would see a milk price on average of 33c to 35c and against historical norms that would have been a very decent return in markets that continually seem to be volatile.”
He added that due to the successful year, the firm has increased the bonus pool paid to its co-op members from €9.5 million in 2016 and to over €15 million.
Volatile
These are the last set of results Lane is likely to preside over since he is due to leave his role at Ornua this summer.
Despite the strong 2017 results, Lane agreed that the Republic’s dairy industry was expected to be a “net loser” from Brexit regardless of what kind of trade deal was eventually struck between the EU and UK.
“If you look in at the effect, we’ve already seen that in the publishing of the 2017 numbers that we’ve been hit by the sterling currency impact both as we supply in and indeed in our profit translation,” he said.
“We’re getting hit with extra costs for labour and availability of labour. And obviously none of us know what’s coming in terms of tariffs down the road, but certainly any level of tariff will be very negative for the Irish dairy industry and indeed into rural Ireland.”
Currently, Ornua has five separate businesses in the UK which account for roughly a quarter of the firm’s total exports.
Last year, the group bolstered its position in the UK when it acquired FJ Need Foods, a cheese ingredients firm, for an undisclosed sum.
Written by Killian Woods and posted on Fora.ie
To embed this post, copy the code below on your site
I look forward to the episode of Top Gear where a half cut Stig ferries punters at record pace to and from the Healy Raes pub in Kilgarvan.
I thought the Stig was Schumacher?
Catch up, Boo!
The Healy-raes won’t be happy that Brendan Griffin is stealing their limelight ….
Politicians getting priorities right once again
Promoting tourism, what’s wrong with that. If it brought just 1000 more visitors to our shore then it’s worth it. Better pushing this than a pot hole repair outside mrs Murphys house that only 2 cars drive on.
What tourists? World knows Kerry is beautiful and no amount of gas guzzling clarkson supporters will make it any better
So you’re saying a politician promoting an amazing driving route with the help of the world’s biggest motoring show is a bad thing??
I’m saying there are bigger issues this TD is not covering, and top gear support racism so not exactly encouraging for the TD
Each politician has different roles and responsiblities. By promoting the Wild Atlantic Way, especially to a vast world wide audience through Top Gear, Griffin is potentially increasing tourism and thus revenue to these areas, hopefully creating a few more jobs along the way. That is not my definition of a bad thing. On your racism comment, Clarkson mummbled the N word in a line of a song during a bloody out take. He neither directed it at anyone, nor wrote the lyrics himself. He also immediately made a groveling apology when this little whisper was heard. To say the entire BBC support racism because of an overreaction in a world gone mad with political correctness is just foolish.
Also Brendan Griffin deals with every issue the people of Kerry bring to him, no matter how small! The man has great time for everyone and has good ideas at national level to boot! An honest, hard working politician. A very rare breed!
Brilliant idea! If they did happen to come across puck fair they would think we’re mental!
All are welcome to visit the Kingdom of Kerry.
Thanks
You would never make it Kevin, they’ve no pringles down there.
Kevin Higgins you talk a lot of crap. Find out your facts before you start spouting!
Looking forward to seeing it. A beautiful part of our beautiful country.
Golden opportunity to highlight our country, never mind the whining from the ecoloons most of us drive and Jeremy Clarkson would bring more tourists here than O’bama.
Maybe if RTE & the government of the day supported Irish motorsport there would be no need to ask (pay) a British production company to promote Irish roads. The Irish Tarmac Rally Championship gets zero coverage in the media, as does the Circuit of Ireland Rally or events at Mondello Park, yet all of these events are well attended and have the potential to be much bigger both at home and abroad.
I watch Top Gear and they do a good job at promoting most of the countries they visit, Mexico being the obvious exception. But if there is money changing hands for this to happen I feel it could be better spent elsewhere, where it is actually needed and where the long term benefits outlast a few stylish aerial shots of a bunch of multi millionaires in foreign sports cars rippin’ up the Ring Of Kerry.
Top gear in Kerry , they should have them over for the puck fair
You young people won’t remember, but Top Gear was once an informative half-hour magazine programme about cars and motoring.
and you might remember Neal – that show got axed
Ha true, with Quentin Wilson and some fella with a beard whose name I can’t remember.
Chris Goffey I think. And a fine beard it was too!
Speaking of beards, Noel Edmunds presented Old Top Gear back in the day too.
hmmm , it will like the episode they filmed in Albania ,somehow everyone will look like an overweight toothless hillbilly, staring in amazement as the brits abroad dazzle them in their bling.
What do you call a kerryman sitting on top of a bag of potatoes?
Top of the pops.
Some say his driving skills are the result of reverse-engineered alien biotechnology….
Some say stig honed his skills on the starship enterprise and it was him not Scotty who said the engines will blow sir .
Why would you invite that arrogant buffon Clarkson anywhere.
Maybe the TD is cool with racists
Denise, are you ever happy? Even on a good news story you manage to have a sad comment. Can’t be healthy for you
I think Clarksons racist comments were sad, shows his fear of other races , or hate were really unsure as he refuses to comment on it . I guess you can’t teach an old dog new tricks
So does that mean the black people fear their own race as they constantly refer to themselves by that word?
Wow
Wow.
Because Denise
Millions and millions watch Top Gear – are you that stupid?
Jesus Aaron. Your not supposed to use that word “b***k”
Didn’t know they replaced The Stig after Ben Collins left.
Stig has do challenge after a few pints at heely rays pub
have your say