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Lakeland Reports 30% Profit Increase

Published on Apr 24 2014 11:48 AM in Fresh Produce

Lakeland Reports 30% Profit Increase

Lakeland Dairies reported that its pre-tax profits for 2013 were up 30% to €10.3million as total revenues rose 15% to €545.5million. The cross-boarder cooperative collects and processes over 700 million litres of milk every year from 15 countries and then exports to over 70 worldwide.

It reported strong improvements and high efficiency across all of its divisions. Revenues in its Food Ingredients division increased by €53.9m to €308.9m, while turnover at its Foodservice division grew by €8.3m to €169.8m. Meanwhile, revenues at its Agri-trading division rose by 18% to €66.8m.

Michael Hanley Lakeland’s CEO said, "We will continue to pay a leading milk price while pushing all of our growing profits back into Lakeland Dairies which will remain a farmer owned and farmer controlled co-operative, working successfully in the direct interests of its stakeholders.”

© 2014 - Checkout Magazine by Paul Campbell.

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