Dale Farm Post Record Numbers As 2017 FY Turnover Jumps To €546m
Northern Irish based dairy co-op, Dale Farm, has reported a group turnover of £481 million (€546 million) in its end of year report, an increase of 24% on the previous year, according to the Irish Times.
The co-op posted record numbers in the 12 months ending March 2018, which also saw the group’s pretax profits soar to £10.1 million (€11.4 million), a 27% jump on the previous year.
Chief executive Nick Whelan said the latest set of results were the “result of ongoing reinvestment, combined with teamwork and an ambitious strategy that has strengthened partnerships with major customers across the UK, Ireland and beyond”.
“Dale Farm’s focus remains steadfast – to support sustainable farming by paying our members the best possible milk price at all times. I am delighted to be able to report that Dale Farm has moved to the top of the 12-month rolling milk price league in Northern Ireland and, as of this month, is paying the leading milk price on the island of Ireland,” he said.
The co-op, which is owned by 1,300 dairy farmers across the UK, also confirmed that it is still interested in a joint venture with LacPatrick. The group said it is weighing up “all aspects” of a potential deal after showing interest in the Monaghan based firm in April.
Dale Farm was also named Lidl’s main global supplier for cheddar cheese. The supply deal will see the farmer-owned co-op supply cheddar cheese to Lidl stores across the UK, Europe and the US.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.