8% rise in profits for Glanbia

CONSOLIDATION in the dairy industry is inevitable at farm and factory level, Glanbia’s managing director said yesterday.

The former dairy, which includes Yoplait, Kilmeaden cheese and Avonmore amongst its brands, yesterday reported 8% growth in pre-tax profits for 2002 to just under €72 million.

John Moloney said in the context of the mid-term review of the Common Agricultural Policy, scales would have to be improved.