Investment and sustainable growth on the agenda at Dale Farm AGM
Members of Dale Farm cooperative gathered at the Glenavon Hotel, Cookstown on 23rd October for the company’s Annual General Meeting.
Farmers heard from the Dale Farm leadership team on the strong results for the last financial year 2023/2024 as well as outlining plans for future growth and discussing industry challenges. The cooperative recorded a strong set of results for the year ending March 2024. With group turnover of £631.4m and net profit before tax up 11% at £29.8m (previous year £26.8m), Dale Farm significantly improved its turnover to profit ratio.
Key topics for discussion among attendees included the next steps of Dale Farm’s Future Strong sustainability framework, as well as an update on the cooperative’s £70m investment in its cheddar processing facility at Dunmanbridge. One of the largest investments of its kind in NI agri-food, the project is on track to be completed in February 2025.
Speaking after the meeting, Nick Whelan, Group Chief Executive, Dale Farm said:
“As a farmer-owned dairy cooperative, every decision we take is about ensuring the profitability and sustainability of our members’ farm enterprises. Our ongoing focus is on maintaining a dynamic and profitable business, which enables us to invest in the future sustainability of the cooperative and ensure the best possible returns for our 1,300 farmer members.
“We consistently have a very strong turnout at our AGM, and this year was a record. We value the opportunity to discuss the outlook for the cooperative with our engaged, active membership – and to explore how we can support the farmers who own the business and supply us with quality milk.
“Our latest financial results show our business strategy is working. Through strategic investment we are able to deliver growth while paying a competitive milk price. We look forward to the year ahead with a sense of optimism and a determination to build on this success, together with our farmers.”
L-R Pictured at the 2024 Dale Farm Annual General Meeting are Group Chief Executive Nick Whelan and Chair Fred Allen.
