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Ornua's 2023 results dip due to challenging markets

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Kerrygold brand owner Ornua has reported lower turnover and operating profits for 2023 due to the challenging market conditions that the Irish dairy industry faced last year.

Ornua, the largest exporter of Irish dairy products, said its turnover for the 12 months to the end of December dipped by 0.7% to €3.4 billion, while its operating profits fell by 8.2% to €127.2m from €116.8m in 2022.

It also opened the new €40m development at Kerrygold Park, which increased production capacity to about one million retail packs a day. Looking to the rest of the year ahead, it said that global milk supply looks likely to remain flat which should support the market.

 

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