FDBusiness.com

Sold Performance By Milk Link

 Breaking News
  • UK Grocery Prices Rising at Fastest Rate in Four Years The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 5 November 2017, show UK supermarket sales have increased in value by 3.2% year-on-year in the run up to Christmas. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, explains: “Volume sales have increased by less than 1%, meaning it’s [...]...
  • Alcohol Minimum Unit Pricing to Go Ahead in Scotland The UK Supreme Court has ruled that minimum unit pricing for alcohol, which was passed overwhelmingly by the Scottish Parliament in 2012, can now proceed. Scottish Health Secretary Shona Robison has welcomed the decision and confirmed she intends to make a statement to Parliament shortly, setting out the Scottish Government’s next steps. Following the unequivocal backing [...]...
  • GEA Brings Together Technologies to Supply Extended Production Line For BMI GEA has recently been selected to supply an extended pasta filata cheese production line for BMI in Jessen, Germany. With this exemplary project GEA brings together its joint cheese-making expertise, resulting from its acquisition of de Klokslag and CMT in 2014 and 2015 respectively, with GEA’s flow and processing experience to provide a single offering for this [...]...
  • Bosch Packaging Technology Wins German Design Award 2018 The Sigpack VPF (Vertical Platform for Flat Pouches), the first freely scalable flat pouch machine from Bosch, has been honoured with the German Design Award 2018 in the Excellent Product Design category. The German Design Council presents the prestigious award on an annual basis. The German Design Award is the second prestigious accolade for the [...]...
  • Premier Foods Returns to Revenue Growth Premier Foods, the UK convenience food group, has reported group revenue of £353.3 million for the 26 weeks ended 30 September 2017 – an increase of 1.5% on the prior period – with Branded revenue in line with last year at £295.4 million while Non-branded revenue increased by 10.1% to £57.9 million. Group reported half year [...]...

Sold Performance By Milk Link

Sold Performance By Milk Link
June 28
11:37 2010

Milk Link has increased profit before tax to £10.6m for the year ended April 3rd last from £0.5m in 2009, when the British dairy co-operative incurred exceptional charges of £9.6m. EBITDA rose by 1.7% to £28.7m and turnover edged up 0.5% to £550m. The profit attributable to co-op members was £10.1m.

The amount of milk handled by Milk Link during the year increased by 13% to over 1.4b litres as the co-operative was successful in recruiting about 600 additional new members and ‘direct supply’ farmers

Despite the acquisition of the Llandyrnog Creamery in North Wales for £25.6m during the year, net bank debt at £80.9m was only £4.8m higher than the prior year. The acquisition reinforced Milk Link’s position as the largest producer of British cheeses.

During the year, Milk Link undertook a strategic refocusing of its long life milk and cream and flavoured milks business. This entailed the closure of its Kirkcudbright facility and consolidation of all milk production into its Crediton Dairy, which benefited from a major capital investment programme to create the most advanced production facility of its type in the UK.

Neil Kennedy, chief executive of Milk Link.

“Despite extremely difficult trading conditions, particularly in relation to the cheese market, where the impact of imports of cheap cheese combined with deep and sustained discounting by the major Cheddar brands served to erode value from the market, the group’s financial performance was strong,” comments Neil Kennedy, chief executive of Milk Link.

“Looking forward, over the next twelve months the trading and economic environment will continue to be extremely challenging, whilst global dairy commodity markets will remain highly volatile. At the same time, although there are some welcome signs that farmer confidence is improving across the dairy industry, we must ensure that this is developed and sustained. This will be vital if we are to give farmers the confidence to make the necessary levels of investment in their dairy enterprises and to encourage the next generation of dairy farmers who will be the lifeblood of the industry.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements