Northern Ireland’s largest dairy group has announced record results for the past year.
Pre-tax profits at United Dairy Farmers surged by 17% to £4.16m, as sales grew by more than a fifth (21%) to a new high of £400m.
“This was an extremely encouraging set of results, which prove that our growth strategy is delivering,” said chief executive David Dobbin. “As well as increasing our exports of bulk dairy products we successfully grew our added-value sales in consumer products and dairy food ingredients.
“We expanded sales of Dromona cheddar cheese and whey protein products into domestic and international markets on the back of a major investment in our cheese and whey processing capability in 2010.”
Dobbin added: “Dairy markets have remained firm and while internationally-traded commodities have recently shown some weakening, consumer product returns are starting to regain their premium.”
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The Dairymen 2011 (10 September 2011)