Company snapshot; Armaghdown creameries ltd
Armaghdown Creameries is a wholly owned subsidiary of the Fane Valley Co-operative Society.
Fane Valley combines a number of business interests linked to the farming community. Armaghdown Creameries specialises in the supply of liquid milk and processing of milk products.
In the most recent reported year, Armaghdown has recorded much larger turnover and increased operating and pre-tax profits. Turnover in the year 2007-08 rose by 25%. Critically, this subsidiary has been recovering from much weaker profit figures three and four years ago. After 2001-02, operating profits fell in four successive years. Now that trend has been reversed and operating profits in 2007-08 were the highest of the past decade.
Since the business calls for only modest borrowing needs, pre-tax profits closely parallel the figures for operating profits.
Employee numbers have remained stable in the last decade, usually averaging 155 people.