Operating profit at Robert Wiseman Dairies slipped 19.5% to £24.6m for the 52 weeks to end April 2.

In full-year results released today, the group also revealed a 15.3% fall in pre-tax profits to £24.7m.

Despite the fall in profitability and the recent blow that Wiseman had lost its milk supply contract with supermarket chain Morrisons, Alan Wiseman, Robert Wiseman’s chief executive, said that he was confident the next financial year would be a positive one.

“We believe that with all the major retailers now having made their decisions about supply arrangements, we can look forward to a period of greater stability within the industry,” he said.

The group also confirmed that its milk supply contracts with Sainsbury and Tesco had increased and that it would be launching an extended shelf-life product in conjunction with Tesco this summer.

Wiseman also said that work remained on track for its new dairy in the south west which is expected to be operational by the end of next year.