Dale Farm reports solid results
Dairy cooperative Dale Farm has reported what its Chief Executive describes as a ‘solid’ year’s performance for the financial year ending March 2020.
Group operating profit was reported at £12.2m (previous year £14.3m), group profit before tax £9.8m (previous year £12m), EBITDA £19.3m (previous year £20.9m) and overall group turnover £504.5m (previous year £509m).
Dale Farm Group Chief Executive Nick Whelan commented: “I am pleased to report that Dale Farm is reporting a solid year of results for 2019/20, achieved despite some weather-related challenges during that time. These figures are evidence that our strategy, now in its fourth year, is continuing to deliver.
“Throughout 2019/20, sales in a number of our product areas were negatively impacted by weather conditions. Our solid performance, despite these headwinds, is the combined result of continued investment, excellent customer partnerships and a team of hard-working, dedicated people in every part of our business.
“Our portfolio of dairy products in retail and foodservice across the UK as well as our global exports, performed well. Milk volumes and milk quality in the year were relatively strong, provided to the cooperative through a network of over 1,300 local dairy farmers. Our award-winning cheddar cheese continues to perform particularly well within the own brand, foodservice and branded sectors in both the domestic market and worldwide.”
Impact of Covid
Looking to the year ahead, Nick Whelan added: “The impact of the COVID-19 pandemic is having a significant effect on our business and our dairy farmer members currently. I am, however, confident in the talent and resilience of our people, the strength of our business model and the quality of the products we make.
“We always endeavour to pay a competitive milk price to farmers and ensuring we deliver on this will be our core focus. We will continue to reinvest and innovate so we can meet the needs of the consumer and ultimately best support our dairy farmer members,” Nick Whelan said.