Industry & Business

Third Year of Consistent Growth For Dale Farm

 Breaking News
  • Fáilte Ireland Unveils Range of Measures to Sustain Tourism Growth For 2019 Creating a series of long-term tourism development plans for specific geographical locations, developing new festivals to lengthen the tourism season, and promoting careers in the tourism sector – these are just some of the key initiatives Fáilte Ireland’s CEO Paul Kelly has outline, as he set out plans for 2019. As the tourism agency looks to [...]...
  • Genesys Creates 200 New Tech Jobs and Establishes Global Artificial Intelligence Centre of Excellence Genesys®, the global leader in omnichannel customer experience and contact centre solutions, has announced it is creating 200 new technology jobs in Ireland over the next three years. The senior and highly skilled technical roles are based at the company’s new Galway office. The state-of-the-art facility serves as a Genesys research and development (R&D) hub [...]...
  • Bausch Health to Expand Contact Lens Manufacturing Facility in Waterford Bausch Health Companies will invest to expand contact lens manufacturing capacity at its Bausch + Lomb sites in Waterford, Ireland and Rochester in the US. The company is adding multiple production lines at these two sites to support the manufacture of its innovative daily disposable silicone hydrogel (SiHy daily) contact lenses. “Bausch + Lomb is one [...]...
  • PropertyBridges.com Successfully Completes First Ever Peer to Peer Property Loan in Ireland Propertybridges.com, Ireland’s new peer to peer lender to the property development marketplace, has just successfully fulfilled its first loan. Over 100 lenders piled into the 250k loan for a new mews build in Sandycove, County Dublin and supported the small developer as well as made 8.5% return for themselves. The whole process took less than [...]...
  • Inclusive and Sustainable Responsible Research & Innovation More citizens are involved in science through public engagement. Natural scientists and social scientists have formed collaborations. Users are leading innovation. Open access trends are changing the publishing system. Gender equality has gained political momentum. Together, these efforts form a European-wide approach called Responsible Research and Innovation (RRI). It implies that all of society (researchers, [...]...

Third Year of Consistent Growth For Dale Farm

Third Year of Consistent Growth For Dale Farm
July 09
09:43 2018

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 2018. Group operating profit rose from £9.8 million to £12.1 million, profit before tax increased from £7.9 million to £10.1 million, with an associated EBITDA of £18.1 million. Overall group turnover exhibited record growth of 24% to £481 million.

The results reflect a third year of consistent growth 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 2017/18 accounts are hugely positive. Our consistent level of growth and profitability is the result of ongoing reinvestment, combined with teamwork and an ambitious strategy that has strengthened partnerships with major customers across the UK, Ireland and beyond.”

He continues: “Dale Farm’s focus remains steadfast – to support sustainable farming by paying our members the best possible milk price at all times. I am delighted to be able to report that Dale Farm has moved to the top of the 12-month rolling milk price league in Northern Ireland and, as of this month, is paying the leading milk price on the island of Ireland.”

Having invested £19 million into its facilities and operations over the last three years, Dale Farm this year reported a 14.4% group Return on Capital Employed (ROCE).

“A vital ingredient in our success is the strength of our people, so we invest heavily into developing talent that will help us on our growth trajectory. We also 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,” he explains. “This lean model allows us to focus on the sustainability not just of Dale Farm’s business, but also the businesses of our growing network of dairy farmers who provide us with world-class milk.”

Nick Whelan elaborates: “Our cooperative 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 strategy going forward. In essence, success for Dale Farm means success for every dairy farmer within our membership.”

Dale Farm recently signed a major supply contract with retailer Lidl, which will see its cheddar cheese being sold in 8,000 stores across 22 countries. Nick Whelan joined Dale Farm as group chief executive in 2016 with the aim of driving the business forward significantly in conjunction with its farmer members.

About Author

admin

admin

Related Articles

New Subscriber





Subscribe Here



Advertisements



















National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4