FDBusiness.com

Dale Farm Delivers Double-digit Profit Growth and a Leading Milk Price

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Dale Farm Delivers Double-digit Profit Growth and a Leading Milk Price

Dale Farm Delivers Double-digit Profit Growth and a Leading Milk Price
July 04
10:39 2019

Northern Ireland-based Dale Farm, the largest UK farmer-owned dairy co-operative, has announced significant increases in profit, return on capital employed (ROCE) and turnover as part of its financial results for the year ending March 2019. Group operating profit rose 18% to £14.3 million, profit before tax was up 19% to £12 million, with EBITDA up 15% to £20.9 million. Overall group turnover grew 5.6% to £509 million. The results reflect a fourth year of consistent growth in profitability for the business.

Nick Whelan (pictured), group chief executive of Dale Farm, comments: “Our financial performance is measured by our ability to best support our farmer owners and, as such, our 2018/19 accounts are hugely positive. Our consistent profitable growth is the result of our people working together on an ambitious strategy in a culture of continuous improvement, a focus on product and process innovation and building partnerships with major customers across the UK, EU and beyond. I am delighted to be able to report that Dale Farm has paid the leading milk price as per the 12-month rolling milk price league in Northern Ireland throughout this past financial year.”

Having invested £30.2 million into its facilities and operations over the last four years, Dale Farm this year reported a 15.8% group ROCE for the group overall.

“We continually assess and reinvest into every step of the production process to increase our operating efficiencies and in doing so, have achieved a return on capital well above the industry average,” Nick Whelan points out. “A vital ingredient in our success is the capability of our people, so we also invest heavily in developing talent to support the delivery of our growth trajectory. In addition, we have a fundamental belief in the evolution of the ‘Lean’ culture across our group, which is a vital tool in helping us manage both significant ongoing cost inflation and address the impact of potential challenges, such as Brexit.”

He elaborates: “Our co-operative ethos is underpinned by a long-term vision to support dairy farming across Northern Ireland and Great Britain and that will remain the driving force behind our development going forward. Success for Dale Farm means success for every dairy farmer within our membership as we look to strengthen our balance sheet, while at the same time paying the best milk price possible. This ethos has attracted a significant number of new members and suppliers over the past financial year with growth of over 7% in our milk pool.”

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements