FDBusiness.com

Irish Dairy Board Reports Strong Financial Performance

 Breaking News
  • Orkla Sells K-Salat to Stryhns Orkla Foods Danmark has agreed to sell its K-Salat business to Stryhns, which is part of the Norwegian Agra group. The purpose of the sale is to concentrate Orkla’s activities on fewer categories. K-Salat has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark. Under the agreement, Stryhns will take over [...]...
  • Ardgowan Secures £1 Million to Build Malt Whisky Distillery and Visitor Centre A project to build a new lowland Scotch malt whisky distillery and visitor centre in Inverclyde has taken major step forward with the award of nearly £1 million from the Scottish Government. The Ardgowan Distillery secured £982,000 from the government’s Food Processing, Marketing and Co-operation (FPMC) grant scheme – providing vital capital towards construction costs. Martin [...]...
  • Irish Craft Beer Sustaining Growth A new Bord Bia report has revealed that Irish craft beer is performing well across all fronts, from the number of production facilities to production output, market share and exports. The number of craft breweries in Ireland has grown by more than 500% in the last 5 years, with 72 now in operation, up from [...]...
  • Fi Europe Innovation Awards – The Shortlisted Companies One of the highlights at Fi Europe & Ni is the announcement of the winners of the Innovation Awards. The competition not only rewards the most innovative products and concepts, it also acts as a reliable trend barometer. The ten-member jury, chaired by Peter Wennström of The Healthy Marketing Team, presents a shortlist of the [...]...
  • Advetec Targets Food and Drink Manufacturers With Next Generation Organic Waste Digester To reduce food processors costs, Advetec, a leading specialist in the treatment and reduction of solid and liquid organic waste, has launched the Advetec XO, an evolution of the company’s successful Bio-Thermic Digester (BTD) technology. The system is designed to rapidly reduce organic content within waste at source,cutting off-site transportation and processing costs and helping food manufacturing companies [...]...

Irish Dairy Board Reports Strong Financial Performance

Irish Dairy Board Reports Strong Financial Performance
April 22
12:51 2014

The Irish Dairy Board increased turnover by 5% to over €2.1 billion and EBIT up 25% to €25.8 million in 2013. This strong operating performance enabled an €11 million bonus to be declared to members, an increase of 16% on the year prior.

The Irish Dairy Board (IDB) is an agri-food commercial co-operative which markets and sells dairy products on behalf of its members, Ireland’s dairy processors and the Irish dairy farmers. Headquartered in Dublin, the business employs some 3,100 people globally. It is responsible for exporting circa 60% of Ireland’s dairy products to over 100 countries. The IDB owns the Kerrygold brand, which is found in shops and in homes all around the world. Its brand portfolio also includes Pilgrims Choice, Dubliner cheese, and BEO, a popular milk powder sold in Africa.

IDB closed 2013 with a very strong balance sheet, with net assets of €417 million, debt free and with cash of €51.9 million, a strong financial base from which to support its business growth strategy.

In addition, in May 2013, the group made an exceptional payment of €2 million to an emergency fund for Irish dairy farmers in response to the unprecedented fodder crisis.

Kevin Lane, chief executive of IDB, comments: “I am pleased to report a very strong business performance in 2013, combining solid earnings growth across all divisions and enhanced product returns to our members. Our continuing investment in brand growth, New Product Development and in-market expansion is designed to ensure that our members and suppliers can expand on the basis of sustainable market demand.”

He continues: “The abolition of milk quotas in 2015 will present the Irish dairy industry with its first opportunity for meaningful expansion in the past 30 years. Our strategy is to ensure that IDB members and dairy farmers are optimally positioned to participate in this expansion opportunity through enhanced routes to market and sustainable, market led products.”

The IDB has also announced details of a new €30 million investment that will create 50 new jobs in Mitchelstown, County Cork. The 50,000 tonne capacity, fully integrated butter production and packing facility will also serve as an innovation centre for Kerrygold which has ambitious expansion plans post the abolition of milk quotas in 2015.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements