Monaghan Mushrooms -- the Ryanair of the mushroom business -- generated an estimated €4.3m in profits for the first six months of 2012.
Accounts for company are unavailable because of its unlimited company status but extrapolating from the Donegal Creameries' accounts just published, it is safe to assume this €4.3m profit figure.
Donegal owns 35% of Monaghan Mushrooms and this associated venture contributed €1.5m to its half yearly profit line.
The 7% to 10% strengthening of sterling this year relative to the euro has been a major contributor to the 18% increase in profits for Monaghan Mushrooms.
Monaghan Mushrooms, based in Monaghan town, was founded by Ronnie Wilson in 1981 and employs around 2,200 people.
It has an annual turnover of in excess of €200m and produces 75% of the 58,000 tonnage of mushrooms grown annually in Ireland.
It is know for its ruthless adherence to its business model which has turned the company into Europe's leading mushroom producer and the second largest producer globally.
Monaghan Mushrooms is jointly owned by Donegal Creameries plc (35%) and the Wilson family and recently completed a €100m capital investment programme.
It supplies a full range of fresh mushrooms to leading national and international retailers in Britain, Ireland, Canada and the United States, such as ASDA, ALDI, Supervalu, Tesco, Campells and Morrisons.
The company has diversified into compost production and runs mushroom composting facilities in Britain.
Last year, it acquired the Netherlands-based company, Walkro, in association with Gimv.
Walkro is one of the largest producers of mushroom substrate in Europe.