Milk volume helps Cavan co-op boost profits by 50% to €6.85m

Lakeland Dairies has reported pre-tax profits of €6.85m to Dec 2011, up more than 50% from its €4.5m profit in 2010.

The Cavan-based dairy also reported an 18% increase in revenues to €472m in 2011, the result of around 7% higher milk volumes delivered by its members and favourable dairy market prices.

Ireland’s second largest dairy co-op after Glanbia, Lakeland processes milk from farmers in 15 counties on both sides of the border. Food service enjoyed a 13% rise in revenues to €146m.