Aurivo: Marginal adjustment in milk price support for March
Aurivo has held its base milk price for March supplies, but has slightly reduced its bonus payment.
Suppliers for the north-west co-operative will be paid 31.9c/L for last month’s milk, including VAT and an unconditional early calving bonus of 1.4c/L.
Market conditions are stable and Aurivo will closely monitor supply and demand in the coming months and pay a competitive milk price in relation to market conditions, according to a spokesperson for the co-op.
Earlier today, Aurivo released its financial results for last year; the co-op recorded an increased turnover – up 4% on the previous year – for 2018, but took a hit to profits to the tune of €900,000.
The north-west dairy co-operative described its financial performance as “robust” and in line with expectations in a year marked with ongoing volatility in global dairy markets.
2018 saw the largest investment in the history of the co-operative with new capital investment of €22 million, just the start of a €48 million five-year investment programme.
The move is aimed to ensure Aurivo is well-positioned to take advantage of future market opportunities.
Aurivo reported a group operating profit before exceptional items of €3.0 million, a drop of 23% on 2017’s profit of €3.9 million.
With increased investment, net debt for 2018 was posted at €14.6 million.