Donegal Creameries today reported pre-tax profits of €3 million for the half year to June in what is a 164 per cent rise on last year.
The company said the improved performance was due to an increase in operating profit from €0.55 million to €1.14 million and an improved return from the group's property business, which saw profits rise from €0.6 million to €1.9 million.
Donegal's turnover increased by 5 per cent to €57.4 million during the period.
Earnings per share rose by 14.4 cent to 23.3 cent, an increase of 162 per cent. An interim dividend of six cent is to be paid, up 9 per cent over 2005's interim dividend.
Donegal Creameries chairman Geoffrey Vance said that the group remains committed to its dairy and agribusiness heritage and is confident of developing its model further to position it for the changes ahead.