OMAGH-based liquid milk and cream production company Strathroy Dairy has reported a rise in revenues of more than 20 per cent in the year to last July, its latest published accounts show.
And the family-owned firm, which has been producing milk and cream since 1850, also saw a significant uplift in retained profits, despite its cost of sales rising over the year by more than £13 million.
The company, run by brothers Patrick (57) and Ruairi (52) Cunningham, saw its turnover soar from £94.8 million to £118.7 million.
Cost of sales jumped from £87.4m to £110.5m, but a reduction in bank interest costs ultimately meant Strathroy's bottom line profit rose from £328,857 to £534,859, and shareholder funds as a result have risen to £8.7m.
Staff numbers at the company remain at 154, though its wages bill rose at around inflation to sit at £5.6m.
Strathroy is one of the biggest dairies on the island of Ireland, with its fleet of trucks crossing the border dozens of times daily, processing milk from more than 200 Irish and Northern Irish farms that ends up in about 2,500 retailers across the island, including large multiples like Lidl, Aldi, Spar, Londis and SuperValu.
Strathroy has operations in Cavan, Donegal, Dublin, Galway, Limerick and Sligo in the Republic, as well as its main production facility in Omagh.
It's stellar results were achieved in what was a difficult year for the dairy sector (as well as milk it also supplies buttermilk, butter and cream).
Indeed according to the latest farm incomes report from the Department of Agriculture, Environment and Rural Affairs (Daera), the annual average farm-gate milk price increased by 41 per cent to 44.5 pence per litre in 2022 while the volume of raw milk produced in Northern Ireland decreased by 0.6 per cent to 2.5 billion litres.
