FDBusiness.com

Sales and Profits Increase at Milk Link

 Breaking News
  • The Price is Right For 77% of Brits Earning £50,000+ Who Shop at Food Discounters Latest research from Mintel finds better off British shoppers are flocking to UK food discounters. Indeed, today, as many as 77% of British consumers with a household income of £50,000 or more visit food discounters, compared to 73% of those with a household income of £15,500 or less. And it appears that premium products are pulling [...]...
  • Mackays Invests £3.8 Million in Major Expansion Scotland’s largest producer of marmalade and jam, Mackays, is set to embark on a major multi-million pound investment that will see its business premises grow by 50%. Starting in January 2018, the £3.8 million expansion will allow the company to introduce new product lines into its existing factory as well as create a dedicated distribution [...]...
  • A Healthy Business Choice – Demineralized Whey Powder Demineralized whey powder is an economical and healthy ingredient which is used across many food and dairy products. Growing consumer demands for infant formula and sports nutrition products in particular mean this highly beneficial product is seeing intensified production levels. SPX FLOW offers customers expertise, experience and state-of-the-art technology for efficient and safe demineralized whey [...]...
  • Ferrero to Acquire US Confectionery Company Ferrero Group is acquiring Ferrara Candy Company, the third largest non-chocolate confectionery company in the US, from L Catterton, the biggest and most globally consumer-focused private equity firm in the world. The terms of the transaction were not disclosed. Ferrara is best known as the maker of iconic brands such as Trolli, a leader in [...]...
  • Shift to Sustainable Food System in Europe is Possible – But Faces Challenges Making Europe’s production, consumption and trade in food environmentally sustainable is possible, but it will require a major shift in public attitudes, policies and knowledge and seizing current opportunities for change, according to a newly published European Environment Agency (EEA) report. The EEA report ‘Food in a green light,’ analyses the challenges Europe faces in shifting [...]...

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 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
  • November 5, 2017FLEIFOOD 2017
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements