LAKELAND DAIRIES REPORTS INCREASE IN REVENUES AND PROFITS

8 May 2015 No Comments by The Northern Standard

Construction starts on new €36 million milk powder plant, to open in 2016

The major cross-border dairy processing co-operative Lakeland Dairies has reported a 15% increase in revenues to €625.8 million for 2014, yielding an operating profit of €12.9 million, up by 10% on the previous year.

Chief Executive Michael Hanley said:

“These are very robust results, set against difficult market conditions in 2014, where Lakeland Dairies also paid a competitive milk price. We experienced consistently strong demand across our portfolio of dairy ingredients and dairy foodservice products. This was achieved through organic growth and new business development activity in key markets including EMEA and Asia.

“Consumer sentiment has improved gradually in key markets. This benefited our foodservice customers and fed into stronger sales across the hospitality, catering and convenience market segments. There is a growing requirement for high quality milk powders and functional ingredients in nutritional, pharmaceutical and beverage markets, where we serve leading food manufacturers and infant formula customers worldwide.

Bailieboro Dryer No. 3

“In 2014 we announced a planned € 36m investment in ‘Bailieboro Dryer Number 3’, construction of which has now started in the current …

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