Donegal Investment Group announces latest results

The Donegal Investment Group is reporting an increase in net asset value per share of almost 38% in its latest financial report.
The interim results for the six months to the end of last February show a value per share of €8.24, up from €6.02.
The increase is primarily as a result of the disposal of the group’s 30% share in Monaghan Milbrook Mushrooms, which netted a profit of €19.2 million.
Group revenue decreased by €2.2 million, largely due to a reduction in the availability of seed potatoes, coupled with continued difficult trading conditions in the South American market.
Trading profits fell to €3.2 million, leading to an adjusted earning per share figure of 23.9 cent, down 6.2 cent on the same period last year.
After significant increases in net cash following from the disposal of a number of assets, including An Grianan Estate, he board of the Donegal Investment Group now proposes to return €45.5 million of capital to investors.
An EGM will take place on May 16th, with details to be circulated next week.
Full Report available here –
http://www.donegaligroup.com/media/1161/stock-exchange-release-interim-28-february-2018-final.pdf