Lakeland reports 8m loss amid once-off restructuring charge and weaker dairy market returns – The Irish Times

Lakeland Dairies made a loss of 8.1 million last year, down from the profit of 24.5 million the previous year, on the back of weaker dairy market returns and a once-off 14.5 million charge related to the restructuring of its business.

The cross-Border dairy group last year closed three plants and made over 50 staff redundant to realign its processing footprint with future market demand. The move resulted in exceptional impairment and redundancy costs of 14.5 million.

Combined with the general reduction in market returns, we have reported a net loss of 8 million for the year, chief executive Colin Kelly said.

It is important to note that these exceptionals are exactly just that exceptional. They are once-off effects that will not recur o…

Read the full article at: https://www.irishtimes.com/business/2024/04/17/lakeland-reports-8m-loss-amid-once-off-restructuring-charge-and-weaker-dairy-market-returns/