Lakeland Dairies Keeps March Milk Prices Steady Amid Strong Financial Turnaround
Source: dairynews.today
Lakeland Dairies maintains its milk price for March supplies despite global economic uncertainties, while reporting a significant financial recovery in 2024.
Lakeland Dairies has announced that the price for milk supplied in March will remain unchanged. The base price in the Republic of Ireland is set at 48.75c/L, inclusive of a 0.5c/L Sustainability Incentive Payment, and has been held steady from the previous month.
Similarly, in Northern Ireland, the base price is 39.8p/L, also inclusive of a 0.5p/L Sustainability Incentive Payment.
"The global dairy supply [and] demand dynamic remains relatively stable," remarked Lakeland, noting that geopolitical tensions and their potential impact on the global economy and consumer sentiment are factors to watch closely in the short term.
Financially, Lakeland Dairies reported a remarkable profit recovery in 2024, with a net profit before tax of over €21 million following a nearly €10 million loss in 2023.
This improvement is attributed to increased revenue of €1.75 billion, up from €1.6 billion, driven by value-add sales and rising market prices for dairy products, particularly butter.
The processor announced an EBITDA of €73.3 million for 2024, a significant increase from €43.4 million in 2023, and an operating profit of €42.2 million, showcasing a strong performance and strategic financial management.
Similarly, in Northern Ireland, the base price is 39.8p/L, also inclusive of a 0.5p/L Sustainability Incentive Payment.
"The global dairy supply [and] demand dynamic remains relatively stable," remarked Lakeland, noting that geopolitical tensions and their potential impact on the global economy and consumer sentiment are factors to watch closely in the short term.
Financially, Lakeland Dairies reported a remarkable profit recovery in 2024, with a net profit before tax of over €21 million following a nearly €10 million loss in 2023.
This improvement is attributed to increased revenue of €1.75 billion, up from €1.6 billion, driven by value-add sales and rising market prices for dairy products, particularly butter.
The processor announced an EBITDA of €73.3 million for 2024, a significant increase from €43.4 million in 2023, and an operating profit of €42.2 million, showcasing a strong performance and strategic financial management.
