Turnover at Nenagh based Arrabawn Co-Op reached the €500 million mark for the first time last year.
An exceptional year for dairy markets, allied with the continued return from its extensive investment programme at its manufacturing plant in north Tipp, delivered a record year for Arrabawn in 2022
Notwithstanding the remarkable year for dairy markets, it remained a volatile year, with significant challenges around energy prices, sourcing raw material for feed, fertilizer availability and general price inflation.
However, bolstered by the return on its capital programme over the past five years, Arrabawn, which has over 1,000 suppliers across Munster, Leinster and Connacht, delivered a strong performance in 2022.
Operating Profit increased by €5.5m to €9.589m. The strong performance also enabled Arrabawn to reduce its net debt to €24.1m.
Critically from a supplier perspective, Arrabawn also achieved a record average milk price in 2022.
