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Profit surge for Donegal Creameries 21.04.07

The Donegal Creameries food group, which owns Grianan Estate in Burt, has reported pre-tax profits of €4.1m for 2006.
This was up 15% on the 2005 figure, helped by a €2m property sale and a 'significant improvement' in all areas of its business.
Turnover was up 6.2% to €118.6m. Earnings per share grew by 51% to 27.5 cent and a final dividend of 8c will result in an 8% higher total of 14c for the year.
A breakdown of the figures show that turnover in the dairy division was flat, while agribusiness sales were 11% ahead, helped by a strong performance in the group's potato business.
Meanwhile, Donegal Creameries spent €4.9m on buying properties during the year, including 22 acres in Letterkenny. Rental income rose by 20%.
The company said the trading outlook for 2007 was good after a 'satisfactory' start.

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