A substantial recovery in profits has been reported by United Dairy Farmers, parent company of Dale Farm. Results for the year ending March 2016 show group operating profit of £9m, up from £3.5m in the previous year. The improved profitability and a reduction in working capital of £10.4m, largely due to the fall in dairy market returns, helped to generate a strong cashflow and this reduced the year-end group debt from £82.5m to £66.6m.

Debt reduction this year and the capping last year of the group’s liabilities to the NILGOSC pension scheme has put the business on a stronger base for the future.