Dale Farm reports highest turnover and profit to date

Overall group turnover at the dairy cooperative is up to £591m (previous year £524m). Group operating profit was reported at £25.6m (previous year £14.0m); group net profit before tax £22.1m (previous year £8.2m) and EBITDA £33.8m (previous year £20.8m).

The milk price paid to producers for the financial year averaged at 33.88pence per litre – up 5.56pence per litre year-on-year – the highest Dale Farm has ever paid its farmers.

Dale Farm is owned by over 1,300 dairy farmers who supply the cooperative with milk.

The average amount of milk produced per farm during the 2021/22 financial period increased by almost 4 per cent.

Nick Whelan, Dale Farm’s group chief executive, said he is “pleased” to see this strong performance by the cooperative and the “talented people within it”.

He commented: “Our focus is ensuring that our business is as efficient and profitable as possible so that we can pay the most competitive milk price – whilst also building a stable future for Dale Farm and the farmers who own our cooperative.
“In recent years, turnover has grown by 60 per cent and profits have almost tripled.

“Achieving that means constantly adapting to change and taking difficult decisions, reviewing those areas that can no longer deliver for us and investing strongly in those that do.

“This year’s results are evidence that this approach is working.”

Looking to the year ahead, Mr Whelan added: “As we move forward, this type of strategy is more appropriate than ever.

“The current level of unprecedented cost inflation will require focused management.

“At the same time, we need to proactively ensure we have a suitable asset replacement programme in place that maintains and builds processing capacity for future growth,” he concluded.