Interim profits at Robert Wiseman have been cut in half, as the dairy giant bears the brunt of the price war raging between the supermarkets over milk.

In the six months to 1 October, pre-tax profits at the dairy processor fell by a staggering 47.7% compared to the equivalent period last year, to £10.6m.

The business had been hit by three increases in the amount paid for raw milk since March 2011 and by rises in other costs, the company said.

“The recovery from our customers of these increases has been challenging and, while we are satisfied with the level of cost recovery, pressure on our margins remains,” Wiseman said in a statement.

Turnover increased 1.1% to £457.7m over the period.

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Asda’s milk premium to farmers cut by 20% (24 October 2011)
Robert Wiseman bids to boost margins from mults (29 September 2011)