Lisavaird Co-op, one of the four co-ops that make up Carbery Group, has reported an increase in operating profit and revenue, as it marks 100 years in operation.

The co-op has released its annual report covering the year 2024. The report forms part of a wider special report covering the major developments in the co-op's history from 1925 to 2025.

For 2024, Lisavaird recorded revenue of €218.46 million, an increase of around 2.5% on the €214.07 million figure for 2023.

An EBITDA (earnings before interest, taxes, depreciation and amortisation) of €7.73 million was also recorded, an increase of 5.5% from the 2023 figure of €7.33 million.

Operating profit also increased, moving up by around 7.5% to €4.44 million in 2024 from €4.13 million in 2023.

Milk supplied to Lisavaird in the year was just over 122 million litres, a decrease on the figure for 2023, which was 124.2 million litres.

This was accompanied by a decrease of farmers supplying milk to the co-op, with 236 suppliers in 2024, 10 less than in 2023.

Of that milk supply, average butterfat content increased from 4.23% to 4.27% year-on-year, while average protein content increased from 3.52% to 3.56% over the same period.

The co-op said that average milk price for 2024, including VAT, was 53.84c/L, up from 45.80c/L in 2023.

The number of employees of Lisavaird Co-op increased slightly in 2024 to 382 from 376 in 2023.

Lisavaird Co-op was founded by 15 committee members in 1925, and began with 675,000 litres of milk supplied at its first year, generating a turnover of £28,000.

The special annual report for the centenary year was launched at the co-op's recent annual general meeting (AGM) at the Celtic Ross Hotel in Rosscarbery, Co. Cork.

Speaking at the AGM, Lisavarid Co-op chief executive officer (CEO) Martin Dineen said: "This report is more than a financial review, it is a celebration of our legacy. We are proud to honour those who came before us and to show how the values they established continue to guide us today."

"As we mark our centenary, we look ahead with confidence. This report not only recognises our rich history but also our commitment to future generations of shareholders, customers and employees," Dineen said.

A number of events are planned by Lisavaird Co-op throughout 2025 to mark the centenary year.