Mozzarella cheese producer, Leprino Foods has reported increased operating profits in 2024.

The company, which has two main processing sites at Magheralin in NI and Llangefni in Wales, saw turnover up 12% over the period to £415.4m due to “favourable dairy market pricing”.

Increased energy prices saw costs over the period up 10.5%, leaving operating profit at £13.2m last year, up 66% on the £7.9m in 2023. That 2023 figure was actually the lowest profit recorded by the company since 2012 and compared to profits of over £30m in 2022.

Operating profit margin in 2024 stands at a healthy 3.2%, which is ahead of the 2.4% reported by Lakeland Daries, but behind the 5.2% margin at Dale Farm.

In their report to accompany the accounts, Leprino directors described 2024 performance as “satisfactory”, but noted they expect the market place to remain competitive and overall margins to be “challenging” in 2025.

They are also continuing to invest in the business, with £8.1m spent across the two processing sites in 2024 and “significant capital investments” planned for 2025 “which will span several years and be of strategic importance for the future”.

US-based Leprino Foods is the world’s largest mozzarella cheese producer. Its UK-based business has 387 employees and net assets of £95m in 2024, up from £84.5m in the previous year.