Aurivo Co-operative Society reported a 13.5% increase in revenue to €725.1m, a 236% jump in operating profit to €17m and a 1.5% increase in milk volume collected to 516m litres in 2024.

The co-op paid €3m into a milk stability fund to help manage future milk price volatility and reduced net debt by more than half to €11.5m.

On a divisional level, revenue was increased at the consumer foods, dairy ingredients and marts divisions, while revenue was 1% lower in agribusiness, a drop which was driven by lower prices during the year.

The co-op welcomed 24 new dairy suppliers during the year, which it said accounted for 20% of all new entrants to dairying in the Republic of Ireland in 2024.

'Prudent management'

Aurivo chair Raymond Barlow said: “Through prudent management, ongoing strategic investments and a steadfast commitment to supporting our farmer members, we will continue to position ourselves for long-term growth and resilience.”

Aurivo CEO Donal Tierney said: “Following a very difficult 2023 for the entire Irish dairy sector, I am pleased to report that in 2024 Aurivo reported a very strong financial performance. 2024 was a year of steady progress and it puts us in good stead to face the challenges that lie ahead in 2025.”

See this week's Irish Farmers Journal for full analysis and an interview with Donal Tierney.