Golden Vale profits up 59% to 6.5m

30 July 1997

Golden Vale profits up 59% to £6.5m

GOLDEN VALE announced a pre-tax surplus in the first half of the year, up 59% to I£6.5m (£5.8m) on turnover down 3.8% to I£278m.

Group turnover declined because of lower prices for butter and milk powder.

The improved profit was helped by better cheese sales to the catering trade and fast food sector. Golden Vales processed cheese division turned a I£300,000 operating loss into a I£2m profit.