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Despite uncertainty of Brexit, future looks bright for Dairygold

Despite uncertainty of Brexit, future looks bright for Dairygold

11th July 2017

Jim Woulfe, CEO of Dairygold, said that despite the headwinds of Brexit, the future looks bright for Dairygold and the dairy business in Cork and Munster.

Speaking at a Breakfast Briefing held by Cork Chamber of Commerce in Carrigaline on Wednesday 28th June, Mr Woulfe emphasised his confidence that Dairygold would continue to prosper through turbulent times with a clear strategic focus, as well as the spirit of resilience and tenacity which has seen the organisation through significant challenges over the last decade.

“Dairygold has a track record of overcoming great challenges but we’ve also harnessed opportunities in solving many of these challenges,” he stated.

“Although we can never be certain of what the future holds, I firmly believe that what doesn’t kill you, makes you stronger.”

Mr Woulfe detailed how Dairygold planned and overcame a period of significant challenge in the pre and post milk quota period.

“We had a clear vision; we planned and successfully executed one of the most ambitious capital investment programmes in our history – €215 million over the last six years. Market evaluation, strategic planning and forecasting were, and continue to be, a core focus of our business agenda.”

Brexit is an on-going concern facing Dairygold, which Mr Woulfe said: “would be at the forefront of our business planning for the foreseeable future”.

“Brexit is absolutely a Cork story with circa. 75% of Ireland’s Cheddar cheese destined for the British market being produced in the Cork County. For Dairygold, 25% of our milk pool goes into cheddar cheese production for the UK market so Brexit will undoubtedly have a profound impact unless we take appropriate actions. Dairygold is planning for the worst case scenario and while we hope for a better outcome, we can’t take anything for granted given the political volatility of last 12 months. “

“The difference between Brexit and other challenges we’ve faced is that Brexit is not in our control. Ultimately, no one knows what the outcome and impact will be from the negotiations and new trading arrangements but as businesses, each one of us must assess the situation and contingency plan accordingly.”

Despite the challenges that lay ahead Mr Woulfe said: “Dairygold is prepared to take full advantage of the growing economy and the increasing demand for dairy and to play our part to provide excellent dairy nutrition for a growing global population.”