Strong demand and cost savings transform Lakeland Dairies’ fortunes

BUOYANT global demand and an 18 month restructuring programme has yielded very positive financial results at Lakeland Dairies, the country’s second largest co-op.

Strong demand for dairy products and significant cost savings turned a substantial loss at the Monaghan-based group of €7.2 million in 2006 into an operating profit of €5.5m last year.

Sales rose €43m to €455m, while net debt was more than halved to €33.2m.