Kerrygold owner Ornua delivers strong annual results
Ornua, the dairy and agri-food co-op which owns and operates the Kerrygold brand among others, has published its annual financial report for 2018, which reveals a significant rise in year-on-year turnover and operating profits.
15 April 2019 | 0
Ornua has published its operating and financial results for the year ending 29 December 2018. The dairy giant, which exports to more than 100 countries worldwide and is owner of the Kerrygold brand, achieved a turnover of €2.1bn and a growth of 14.8% in its operating profit of €40.4m.
According to the report, Ornua sold the equivalent of 3.4 billion litres of milk through 110 global markets in 2018, along the way purchasing 342,000 metric tonnes of Irish product. Kerrygold, Ornua’s flagship brand, is the USA’s number two butter brand, with weekly sales of 2.6 million packets.
Meanwhile, the compnay is currently constructing a brand-new state-of-the-art cheese production facility in Spain.
This performance was achieved against a challenging global environment,” Jordan said, “characterised by highly volatile butter prices, drought conditions in Europe, economic uncertainty due to Brexit and ongoing global trade wars.”
Going forward, Jordan outlined the company’s focus as being protecting Kerrygold’s premium positioning, and delivering on a strategy of extending the brand’s reach from butter to a range of other dairy products. “Our key focus for 2019,” he said, “is to drive growth for our businesses across our 110 markets and to continue to deliver value for the 14,000 dairy farmers we represent.”