Lakeland Dairies issues €56.9m to its Offaly farm families in 2024

Cross-border dairy co-operative Lakeland Dairies has paid out €56.9m to its farmers in Offaly last year through milk payments, contributing significantly to the local rural economy. Overall, the co-op paid €998 million to its 3,200 farm families in 2024.

Lakeland Dairies recently announced its annual results and financial report for 2024, marking a year of solid performance. After a very challenging 2023, Lakeland Dairies returned revenues of €1.75 billion, operating profits of €43.2 million, and EBITDA of €73.3 million in 2024.

Commenting on the support to Offaly farmers, Lakeland Dairies Chairperson, Niall Matthews, said: “As one of Ireland’s largest dairy co-operatives owned and run by its members, we understand the critical role that milk price plays in sustaining rural communities. Dairying is the backbone of local economies across the island, the money from the milk cheque is used to invest in their farms for future generations as well as supporting local businesses and industry.

"Our farmers are the originators of the circular economy, and that’s why we are steadfast in our commitment to returning the highest possible milk price.

"In 2024, we were proud to issue almost €56.9m to our farm families in County Offaly, part of a total milk payout of €998m to our suppliers across our catchment. This is a reflection of the immense value our farmers bring to both the economy and society.

"2024 was a critical year for Lakeland Dairies as we continued our strategic journey of added-value and our ruthless focus on operational efficiency to support our 3,200 farm families from 17 counties who produce 2bn litres of high-quality milk annually."