Lakeland Dairies pre-tax profits slightly up to €1.4m in tough year

LAKELAND Dairies, the Cavan-based dairy co-op, made pre-tax profits of €1.4 million in another tough year for the group.

The profit was marginally higher than in 2008 despite sales of €325.7m being more than €100m down on the previous year’s figure.

Lakeland’s chief executive, Michael Hanley, said 2009 was the toughest year for farmers in nearly 40 years and what he characterised as “the most challenging of market conditions”.