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Liquid milk supplier Omagh based Strathroy Dairy Ltd recorded a 17% increase in operating profits for the 12 months to the end of July 2019, its latest accounts show.
The company, which employs 151 people, is owned by the Cunningham family. It buys over 100m litres of milk off NI farmers, and a similar amount in the Republic of Ireland (ROI), with all this milk processed at the site in Omagh.
The accounts for the NI company show that turnover increased in the 12 months to the end of July 2019 to £83.56m, up from £77.44m
However, Strathroy’s southern Irish operation is run as a separate business incorporated in ROI, so the entire financial picture is incomplete.
The accounts for the NI company show that turnover increased in the 12 months to the end of July 2019 to £83.56m, up from £77.44m in the year previous. As a result, net profit came in at £7.57m, but once distribution costs and other administrative expenses are taken off it leaves operating profit at £368,888.
While the company looks to be in a sound financial position, operating profit margins remain tight, at just 0.44%.
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