FDBusiness.com

Solid Performance by Milk Link

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Solid Performance by Milk Link

Solid Performance by Milk Link
June 09
15:39 2011

Reflecting higher selling prices, a better mix of products and a 5% increase in the volume of milk handled to just over 1.5 billion litres, UK dairy co-operative Milk Link increased sales by 6.6% to £586m for the year ended April 2nd 2011 and lifted profit before tax by 43% to £15.1m. EBITDA rose from £29.2m to £34.4m

Milk Link processed 58% of the milk handled through its own production facilities – up from 54% in the preceding year – processing an additional 99 million litres.

Neil Kennedy, chief executive of Milk Link.

“Over the last 12 months Milk Link has delivered solid results despite very challenging economic and trading conditions, particularly in our core consumer retail and foodservice markets,” says Neil Kennedy, chief executive of Milk Link. “We continued to strengthen our business financially, commercially and operationally; streamline our business by implementing programmes to deliver greater operational efficiencies and cost control as we sought to offset significant cost inflation in our processing and haulage operations; and develop our business for the future by investing in a number of strategic added value infrastructure projects. Most importantly, we were able to deliver improved returns to our Members in relation to both their milk price and their investment in the processing business they own.”

In January, Milk Link acquired the Cornish Country Larder soft cheese business for a total consideration of £7.1m to strengthen its position as a leading producer of British cheeses. In December, Milk Link formed a strategic partnership with Volac to jointly undertake a joint £12m investment to create a state of the art, added value whey processing operation.

Later in the new financial year, the dairy co-operative plans to evolve the business structure into two business units: Milk Link – Cheese and Milk Link – Milk, whilst retaining key cross-group functions of finance, IT, human resources, supply chain and corporate affairs. The change is designed to enable Milk Link to put greater focus on growing its core businesses while at the same time moving forward with the next stage of its corporate development strategy.

About Author

colin

colin

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements