Business News

Ljubljanske Mlekarne ups net profit by a third

Ljubljana, 08 September (STA) - Ljubljanske Mlekarne, Slovenia's largest dairy, increased sales revenue by 0.6% last year to EUR 168.6 million, while net profit was up by 33.3% to EUR 6.7 million, according to the annual report filed with the AJPES agency for public records.

The dairy, which has been in the ownership the French Lactalis group through Croatia's Dukat since 2013, says it managed to reduce total costs by 1.4%.

While net profit was up by a third, operating profit increased by 15.9% to EUR 7.9 million.

Ljubljanske Mlekarne, which is the largest buyer and processor of raw milk in the country, is increasing the purchase of organic milk as demand outstrips supply.

For this purpose, the company made a deal last year with the Association of Organic Farmers that it will be purchasing five million litres of organic milk a year until the end of 2020.

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