Lurpak owner Arla Foods’ profits rise thanks to increased demand for lactose-free milk
Lurpak owner Arla Foods’ profit increased by 7 per cent in 2019
Lurpak owner Arla Foods has seen profits rise as it was boosted by growth in the lactose-free market.
The co-operative, which is owned by thousands of farmers in the UK and other European countries, said net profit increased by 7 per cent in 2019 as it was buoyed by lower costs.
Total group revenue increased by 1 per cent to £8.7billion in 2019 after branded sales jumped 5.1 per cent, driven by launches in its Lactofree and organic ranges.
Last month, Arla confirmed plans to spend £25million on the development of a UK site to develop its lactose-free milk products. Sales of Lurpak rose 4.8 per cent to £489million.