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The top selling butter in Germany is... Kerrygold

The Irish Dairy Board’s report today also revealed that profits were up by 10.8% in 2012.

Image: Kerrygold.com

TURNOVER FOR THE Irish Dairy Board increased by 2.4 per cent to €2.03 billion in 2012.

Profits, or earnings before interest, taxes, depreciation and amortization, was up 10.8 per cent to €42.1 million, it was revealed in its review of its 2012 performance.

The group ended 2012 with a debt free, balance sheet and with net assets of €405 million.

The IDB is Ireland’s largest exporter of premium dairy products and a leading international food company with 3,100 employees globally.

Kerrygold is the number one butter in Germany with 15.3 per cent of the market share and the number one imported butter in the US.

The group have also said they have seen significant investment in new markets, such as Africa, Middle East, Russia and China.

“The Group achieved solid earnings growth, despite challenging conditions in the first half of the year,” said Kevin Lane, Chief Executive, IDB. “Building on the success of our iconic brand, Kerrygold, we continue to invest in innovation and product development, with over 50 new products launched in 2012.”

Read: Minister ‘disappointed’ over likelihood of super levy fine for milk farmers >

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