17-04-2014 00:55 AM | Ireland

Irish Dairy Board reports strong results

The Irish Dairy Board (IDB) today, announced increased turnover of 5% to over €2.1 billion, with earnings before interest and taxes (EBIT) up 25% to €25.8 million.

Its operating surplus was up 25% to €25.8 million, and it recorded net assets of €417 million and that it was debt free at the year end with €51.9 million cash reserves.

According to the IDB, this leaves it well positioned for expansion post milk quotas and to deal with this it has new sales and marketing teams in Russia, China, Saudi Arabia and South Africa.
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