Supplier to export 45% of extra milk

Overseas customers are waiting to take the 45% of extra milk which Lakeland Dairies suppliers are expected to produce from 2015 onwards, rising to exceed 1bn litres annually by 2020.

“Our increased milk processing intake will also be supplemented by new milk producer entrants and conversions from other sectors to dairy farming, all of whom will be welcome,” said Lakeland group chief executive Michael Hanley.

The cross-border dairy processing co-op has reported a 15% increase in revenues to €545.5m for 2013, yielding an operating profit of €11.7m, up 9% on 2012. Profit before tax increased by 30% to €10.3m and shareholder funds stood at €87.1m at year’s end.