Lakeland Dairies reports €1.37m profit as chief prepares for ‘long year’

THE country’s second largest dairy processing co-op, Lakeland Dairies, reported an operating profit of €1.37 million for last year.

The figure was well down on the previous year, reflecting a very tough global dairy market undermined by a major fall in demand, created by the global economic slump. Sales for the year amounted to €435m.

The group also confirmed a €20m investment in milk-powder processing facilities for its Food Ingredients Division at Bailieboro, Co Cavan.