DONEGAL Cream cries may seek a listing for its shares on the Irish Stock Exchange. It is already a plc but wants to improve the marketability of its shares and have the facility to generate additional funds for acquisitions, said chief executive Mr John Keon.

It would be a full listing. While not nominating a date for a listing, he said it was unlikely to be this year.

Donegal Creameries, which yesterday announced a rise in pre-tax profit from £1.8 million in 1994 to £2 million in 1995, has around 1,500 shareholders. Golden Vale is the largest with around 10 per cent of the equity and two nominee accounts hold 4 per cent between them. It became a plc five years ago and the shares are traded on a matching buyer/seller basis.

The shares were last traded at £9.20 which puts a value of £7.7 million on the group. The shares have a net asset value of £12.40.

Donegal Creameries is in a strong financial position. It has net cash of £3 million and financial assets (preference shares in Waterford Foods) of £1 million.

The latest results show a rise in turnover from £37 million to £43.2 million in 1995. Earnings per share grew from 142.9p to 192.8p. Shareholders' funds increased from £9.1 million to £10.5 million.

Donegal Creameries said it was in a position to increase farmer milk prices considerably while generating a strong increase in profits in its dairy division.

The group purchased a majority stake in Robert Smyth & Sons, a Donegal animal feeds company, in July 1995. Smyth generated a pre-tax profit of £342,019 in the year to July 31st, 1995.