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Arrabawn is currently further developing the Nenagh town site to allow better access for lorries into the plant.
At the release of the its annual report for 2020, Arrabawn reported increased turnover, increased profits and better milk prices for suppliers.
Turnover at Arrabawn Co-op was up by €12.8m to €278.4m, with EBITDA (earnings before interest, taxes, depreciation, and amortisation) climbing to €10.4m, an increase of €2.9m (37%) on 2019. Operating profit for the year was €2.68m. This was before an exceptional charge of €1.1m due to a restructuring and product recall at Arrabawn s liquid milk facility. Net debt was reduced by €3m.
Lakeland Dairies corporate office in Cavan town.
More butter and powder sales drove turnover and improved profits in the second-largest milk processor on the Island of Ireland.
Lakeland Dairies, headquartered in Cavan with key milk factories in Bailieborough and Artigarvan, saw operating margins improve, profit margins increase, and debt reduce as the benefits of consolidation with LacPatrick Dairies seem to be kicking in already.
Lakeland Dairies Co-op is now the second-largest co-op in Ireland. It has 3,200 suppliers with the milk pool split between 55% in Northern Ireland and 45% in the Republic.
On 1 April 2019, the merger with LacPatrick officially started. This significantly increased the Lakeland presence in Northern Ireland and brought more processing plants to handle a growing milk pool. Total milk supplies were up 3% last year to reach 1.9bn litres. The all-important EBITDA (earnings before interest, tax, depreciation and amortisation) rose by €7.6m to €50.5m. T