Agriculture
Profits at Cavan-based Lakeland Dairies rise to €32.5m after record dairy prices
The farmer owned dairy co-op processed almost 2 billion litres of milk last year and exported around 280,000 tons of dairy ingredients to global markets
Lakeland Dairies, the farmer owned dairy co-op based in Co Cavan, recorded double digit growth in profits and sales last year thanks to record international prices for dairy commodities and ingredients.
Announcing full year results on Wednesday, the dairy co-op reported a 15 per cent increase in operating profits to €32.5 million, despite profit margins in the business narrowing to a slender 1.7 per cent.
Earnings (Ebitda) for the year fell slightly to just over ...
