DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Dale Farm Sees 19% Growth In Pre-Tax Profits

By Dayeeta Das
Share this article
Dale Farm Sees 19% Growth In Pre-Tax Profits

Northern Irish dairy cooperative Dale Farm has posted 19% growth in pre-tax profits, to £12 million (€13.4 million), in the 12 months to March, reports The Irish Times.

The farmer-owned cooperative’s turnover grew by 5.6% during the period, to £509 million (€568.2 million).

The group’s operating profit increased by 18%, to £14.3 million (€15.96 million), while EBITDA also saw growth of 15%, to £20.9 million (€23.33 million), the report noted.

‘Big Distraction’

According to the group chief executive, Nick Whelan, the co-operative achieved these results despite the “big distraction of Brexit”.

In 2018, Dale Farm entered into a partnership with Lidl to supply Cheddar cheese to 8,000 stores in 22 countries.

ADVERTISEMENT

Whelan feels that a no-deal Brexit could have a negative impact on such collaborations.

Dale Farm comprises more than 1,300 dairy farmers across Northern Ireland, England and Scotland.

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.