Dairy cooperative Dale Farm has reported a 'solid' year’s performance for the financial year ending March 2020.
The Northern Irish co-op said group operating profit was reported at £12.2m, down from £14.3m the previous year.
Group profit before tax was £9.8m, down from £12m the previous year and EBITDA was £19.3m, down from £20.9m.
Overall group turnover was reported at £504.5m, down from £509m the previous financial year.
Speaking on the business’ performance, Dale Farm Group chief executive Nick Whelan welcomed the figures against the backdrop of 'weather-related challenges'.
“Throughout 2019/20, sales in a number of our product areas were negatively impacted by weather conditions," he said.
"Our solid performance, despite these headwinds, is the combined result of continued investment, excellent customer partnerships and a team of hard-working, dedicated people in every part of our business."
Mr Whelan said the firm's portfolio of dairy products in retail and foodservice across the UK as well as global exports 'performed well'.
"Milk volumes and milk quality in the year were relatively strong, provided to the cooperative through a network of over 1,300 local dairy farmers," he added.
"Our award-winning cheddar cheese continues to perform particularly well within the own brand, foodservice and branded sectors in both the domestic market and worldwide.”
Looking to the year ahead, Nick Whelan added that the impact of the Covid-19 pandemic was having a 'significant effect' on the business and its dairy farmer suppliers.
"I am, however, confident in the talent and resilience of our people, the strength of our business model and the quality of the products we make," he said.