Lakeland reports poor 2001

IRELAND – Dairy co-operative Lakeland Dairies has blamed foot and mouth disease for disappointing results in 2001.

The company saw pre-tax profit slide 26% on 2000 to 3.97 million euro and turnover fall to 217.8 million euro from 219.9 million euro in 2000.

In a statement, the company said that the outbreak of foot and mouth disease in Northern Ireland and the Cooley Peninsula made collecting and processing milk difficult. Costs of collecting milk soared, and processing operations were checked stringently by the Department of Agriculture, further adding to costs.

However, Lakeland said that it saw a good first half to the year and that its balance sheet remained strong. It added that its recent acquisitions, including the Bailieboro processing plant from Kerry Group and a plant at Omagh from Nestle, would help it towards a strong 2002.