Dairy Crest and Robert Wiseman Dairies have both acted to cut their outstanding debt, according to pre-close trading statements issued today.

Borrowings were down on the £337.2m owed by Dairy Crest at the start of the financial year, the company said.

And Robert Wiseman, which earlier this month announced plans to close facilities in Devon and Fife, said its debt was now lower than the £21.5m reported in its interim results in November.

Both companies said their year-end results, due in May, would be in line with earlier expectations.

However, Dairy Crest warned that a strong performance by its cheese division came in contrast to “more challenging trading in our spreads and dairies business”.

Robert Wiseman said it had recently begun talks to recover increased milk and oil-related costs from customers. But since then it had suffered further costs.

“It is too early to assess the impact this might have on the financial results for the forthcoming year,” the company warned.

Read more
Robert Wiseman squeezes out Dairy Crest in milk deal with The Co-op (16 March 2011)
Robert Wiseman confirms dairy and depot closures (4 March 2011)
Wiseman asks for a 5ppl milk price hike (26 February 2011)