The rise of revenues and profits for Lakeland Dairies in 2024
Lakeland Dairies processed 2 billion litres of high-quality milk last year, collected from 3,200 farm families in 17 counties across the island of Ireland
Print11 April 2025
Lakeland Dairies, a cross-border dairy cooperative, reported increased sales and profits for 2024 following a successful year.
The company’s revenue increased to €1.75 billion last year compared to €1.6 billion in 2023, due to a gain in value-added sales and general dairy market prices, especially for butter in the second half of the year.
“Thankfully, as weather conditions improved, so did global dairy markets and the second half of the year was better,” Niall Matthews, Lakeland Dairies chairperson, noted.
‘Pivotal’ year
According to Lakeland Dairies, 2024 was a pivotal year for the cooperative as it carried out its expansion and development plan, which included acquiring the Belgian company De Brandt.
Across 17 counties on the island of Ireland, approximately 3,200 farm families provided two billion gallons of premium milk for the co-op to process.
Throughout the year, farmers received milk payments of €998 million, despite the unpredictability of the worldwide market.
“Our aim was to support our farmers who produce a world-class, sustainable and nutritious product with a sustainable and competitive milk price,” Mr Matthews, said.
“2024 was one of the most strategically important years in the 130-year history of Lakeland Dairies as we continued to make strategic decisions to benefit the co-op and our farm families in the short and long term,” Colin Kelly, Lakeland Dairies group chief executive, stated.
He added: “We have in place a comprehensive, ambitious and exciting strategy called Foundations for a Better Future which is guiding us on a journey of added-value while ensuring we have an unrelenting focus on operational excellence and efficiency.”
Read more: Lakeland Dairies appoints Niall Gallagher as new COO
© 2025, ShelfLife by Patryk Goron
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