The yoghurt maker posted ‘record’ results in the year to 31 January 2024.
Lancashire Farm Dairy saw profits double in 2023 in a “record year” for the Rochdale-based yoghurt supplier.
The business saw year on year operating profits rise by 124.4% to £9.2m in the 12 months to 31 January 2024, according to its latest accounts. Sales also rose, by 18% to £78.9m.
Its growth was down to “significant new listings with major UK and European supermarkets, expanding its footprint in the competitive retail market”, the supplier said.
And in response to growing consumer demand, Lancashire Farm had also increased NPD activities “reinforcing its reputation as a disruptor in the dairy industry”.
“The focus of the NPD is on products that cater to the increasing health-conscious market, with a focus on natural, nutrient-rich options,” it added, with the past year’s results underscoring its position “as a major player in the dairy sector, driven by its innovative product development and commitment to quality”.
A cornerstone of Lancashire Farm’s offering was said to centre around its commitment to the highest standards of animal welfare and sustainable farming practices. As part of its Free-Range promise, all milk used in its products is grazing-guaranteed and grass-fed.
“Our record-breaking year is a reflection of the hard work and passion of our team, alongside the trust our customers place in our products,” said MD Azhar Zouq.
“We’re proud to be at the forefront of innovation in the dairy industry, and our continued investment in state-of-the-art manufacturing technology will ensure we remain a leader in quality, efficiency, and sustainability,” he added.
“With new product development, we are meeting the demands of today’s consumers while staying true to our core values of free-range milk, and grass-fed cattle.”
Lancashire Farm also continued to invest heavily in “cutting-edge manufacturing technologies to further enhance productivity, efficiency, and product quality”, the business said. These investments were expected to contribute to sustained growth and improved margins in the coming years.
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