Dairibord flogs 25 properties to fund capex

DAIRY processor, Dairibord Holdings Limited, will sell 25 properties to raise US$4,12 million in capital expenditure for the current financial year as it moves to upscale its dairy production across beverage and food segments.

“In January 2024, the group issued mandates to four registered estate agents to facilitate the disposal of 25 of its properties which had been evaluated as excess to property requirements. The proceeds from the sale of these properties are meant to be utilised to finance planned capital expenditure that will see an upsurge in production and sales volumes,” Dairibord said in its annual report for the period ended December 31, 2023.

This story is for NewsDay subscribers.