Lakeland Dairies reports double-digit growth in profits

The farmer owned dairy co-op recorded a 27 per cent increase in operating profits in 2020 despite the challenges created by the pandemic

14th April, 2021
Lakeland Dairies reports double-digit growth in profits
Lakeland Dairies milk processing facility in Bailieboro, Co Cavan. The dairy co-op employs more than 1,100 people and operates eight processing facilities located on both sides of the border. Picture: Colm Mahady

Lakeland Dairies, the farmer-owned dairy co-op based in Co Cavan, recorded double-digit profit growth last year despite the impact that Covid-19 had on its food-service business.

Announcing full year results, Lakeland Dairies recorded a 27 per cent increase in operating profits last year to just over €26 million, as operating profit margins in the business widened to 2.4 per cent.

Lakeland reported earnings (EBITDA) of €50.5 million for 2020, which is up 18 per cent on the...

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