FDBusiness.com

Sales and Profits Increase at Milk Link

 Breaking News
  • PepsiCo Targets African Growth in $1.7 Billion Deal PepsiCo has agreed to acquire all the outstanding shares of Pioneer Foods Group of South Africa for approximately US$1.7 billion. Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current line-up, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, [...]...
  • WHO/Europe Studies Find Baby Foods are High in Sugar and Inappropriately Marketed For Babies Two new studies from WHO/Europe show that a high proportion of baby foods are incorrectly marketed as suitable for infants under the age of 6 months, and that many of those foods contain inappropriately high levels of sugar. WHO’s long-standing recommendation states that children should be breastfed, exclusively, for the first 6 months. Its 2016 [...]...
  • AB World Foods Selects e.fundamentals to Help Drive Online Sales AB World Foods, the ethnic foods division of Associated British Foods, has selected ecommerce analytics provider e.fundamentals to help drive sales of its products through retailers’ websites. AB World Foods, whose brands include Patak’s, Blue Dragon, Levi Roots and Tabasco, has become a client of e.fundamentals’ retail service, which continuously reports how brands are performing [...]...
  • AxFlow Holding Acquires Induchem Group in Ireland AxFlow Holding, the international fluid handling group that is active in all European markets, South Africa, Australia, and New Zealand, has acquired the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on valves, pipe solutions, mixers and pneumatics. Headquartered in Cork, the Induchem Group has four sites, located in Ireland and [...]...
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...

Sales and Profits Increase at Milk Link

Sales and Profits Increase at Milk Link
May 21
11:36 2012

UK dairy co-operative Milk Link has produced a solid financial and trading performance over the last year. Group turnover increased by 7.1% to £628 million and EBITDA rose 15.4% to £33.7 million for the year ended 31st March 2012.

Milk Link lifted comparable profit before tax up by 42.7% to £14.3 million and the Member milk price increased by 2.5ppl during the year bringing the standard litre price to 28.5ppl. This meant that in comparison to the previous year Milk Link generated and paid out an additional £33.7 million to its Members for their milk.

Group borrowings rose by £2.1 million to £82 million. However, at the same time capital expenditure increased to £10.0 million compared to £5.5 million in the prior year.

“Despite an extremely difficult trading environment the group’s financial performance again strengthened,” says Neil Kennedy, chief executive of Milk Link. “During the year we benefited from strong commodity prices for our skimmed milk powder, cream, curd and whey products; from an increase in milk production from our Members and long term ‘direct’ suppliers; from cost savings resulting from the implementation of rigorous efficiency and productivity programmes across all areas of the business and from our continuing emphasis on cash, stock and debt management. Nevertheless, the results also reflect that Milk Link’s trading performance in our main retail and foodservice markets held up well despite highly challenging conditions. Indeed, sales both in terms of value and volume increased year on year in relation to our core Cheddar business, speciality cheese and flavoured milks.”

Milk Link has also been strengthening its processing business for the longer term by undertaking its largest capital investment programme to date. During the year, Milk Link completed two major investment programmes. The first was, as a result of a £12.5 million joint venture with Volac, the development of a state-of-the- art whey processing plant at Milk Link’s Taw Valley Creamery in Devon. A new £4 million production facility at the Trevarrian Creamery in North Cornwall was also completed by year end and to budget which has substantially increased the capacity of the creamery to meet a growing demand from major retailers and foodservice providers for its premium soft cheeses.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements