Dale Farm profits fall 16% as Covid costs hit business

Profits at dairy co-op Dale Farm fell 16 per cent to £8.2 million (€9.55 million) as Covid-19 costs hit the business in the 12 months ended March 31st.

The Belfast-headquartered dairy and ice cream producer said on Wednesday that sales rose £19 million in 2020 to £524 million over its last financial year.

Pre-tax profit fell 16 per cent to £8.2 million from £9.8 million. Its operating surplus after once-off charges fell 18.8 per cent to £9.9 million.

Group chief executive, Nick Whelan, said that Dale Farm benefitted from a boost in retail sales, but saw its foodservice business decline as the pandemic hit.

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“Additional operating costs were incurred during the year due to Covid-19, however despite these headwinds we achieved a solid set of financial results,” he said.

Mr Whelan said that the co-op continued to focus on maximising returns to members through innovation, adding sales outlets, boosting margins and controlling costs.