AGRI-BUSINESS groups certainly picked the wrong week to announce results, given that all eyes were on the BSE issue. There was little to be done, however, as these events were pencilled into the diary long before the BSE drama turned into a crisis. First off the blocks this week were Waterford Foods and Dairygold.

Dairygold announced a 9 per cent rise in profits for 1995 to turn in a respectable £13.8 million profit. Waterford Foods profits before tax rose almost 23 per cent to £24.9 million. Both groups are understandably concerned about the BSE scare, but managed to put a brave face on things.

"We are in an overreaction stage now there will be a downside," said Dairygold's chief executive Mr Den is Lucey. "We have had some slowdown but we're still operating on a reasonably even keel," he said on Tuesday.