Investment and sustainable growth on the agenda at Dale Farm AGM

​Farmers heard from the Dale Farm leadership team on the strong results for the last financial year 2023/2024 as well as outlining plans for future growth and discussing industry challenges.

The cooperative recorded a strong set of results for the year ending March 2024. With group turnover of £631.4m and net profit before tax up 11% at £29.8m (previous year £26.8m), Dale Farm significantly improved its turnover to profit ratio.

Key topics for discussion among attendees included the next steps of Dale Farm’s Future Strong sustainability framework, as well as an update on the cooperative’s £70m investment in its cheddar processing facility at Dunmanbridge.

One of the largest investments of its kind within Northern Ireland’s agri-food sector, the project is on track to be completed in February 2025.

Farmers in attendance were also updated on the enhanced winter milk support for the season ahead.

Speaking after the meeting, Nick Whelan, Group Chief Executive, Dale Farm said: “As a farmer-owned dairy cooperative, every decision we take is about ensuring the profitability and sustainability of our members’ farm enterprises.

“Our ongoing focus is on maintaining a dynamic and profitable business, which enables us to invest in the future sustainability of the cooperative and ensure the best possible returns for our 1,300 farmer members.”

He added: “We consistently have a very strong turnout at our AGM, and this year was a record. We value the opportunity to discuss the outlook for the cooperative with our engaged, active membership – and to explore how we can support the farmers who own the business and supply us with quality milk.

“Our latest financial results show our business strategy is working. Through strategic investment we are able to deliver growth while paying a competitive milk price. We look forward to the year ahead with a sense of optimism and a determination to build on this success, together with our farmers.”

Turn to page 12

The annual report was published to coincide with the AGM. Courtesy of his foreword, Dale Farm chairman, Fred Allen, confirmed that continued input cost inflation, a volatile global dairy market and difficult weather patterns all impacted profitability on-farm in the 2023/24 period.

He continued: “As a result, Northern Ireland volumes only increased by 0.6% while GB volumes remained flat.

“Challenging weather in the first half of May 2023, delayed most farmers first cut silage which affected quality but increased bulk.

“The subsequent heat wave in June limited the yield of second cuts. With rain returning from July onwards, it was difficult to get sufficient weather opportunities for the subsequent silage cuts.”

This also impacted the grazing season resulting in cows being housed early in many parts of the province.

Milk volumes fell over the autumn, but returned to growth from December onwards, due to an improving milk price versus meal price.

According to Mr Allen, this trend has continued into the 2024/25 season, despite relentless rainfall which delayed turn out to grass on many farms this spring.

He further explained: “Autumn 2023 saw the launch of our Future Strong sustainability programme. This programme will develop and evolve in due course as we endeavour to meet environmental targets.

“The information collected in the sustainability survey has been used to calculate a baseline carbon footprint of our milk pool.

“Having this baseline assessment and the accompanying data has already enabled us to showcase the positives within the milk pool, which has proved invaluable in retaining and winning new business for the cooperative.

“On this note, we as a business, appreciate members taking the time and effort to complete and return the survey.”