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For the year ending March 2022, both turnover and profit at the group of companies that make up Dale Farm Co-op were the highest ever recorded.
Overall group turnover was up nearly 13% to £591m, with operating profit rising 83% to hit £25.6m. That leaves operating profit margin at a very healthy 4.3%, compared to 2.7% for the previous year. Group net profit before tax nearly trebled from £8.2m to £22.1m.
Dale Farm chief executive Nick Whelan said that the strong performance was reliant on adapting to change and reviewing those areas of the business that don’t deliver while investing in the areas that do. “This year’s results are evidence that this approach is working,” he said.
He emphasised that the focus is to ensure that the business is efficient and profitable, allowing the co-op to pay a competitive milk price, while also building a stable future.
In the last financial year, the average milk price paid to suppliers averaged 33.88p/l, up 5.56p/l on the previous year.
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