Milk Link has boosted sales and profit in a tough market, helped by new product development, according to full-year results.
The dairy co-operative said it had extended its product range, enhanced its sales and marketing strategy and strengthened its retail presence. Product launches included long-life milk brand Moo and the Flora Pro-activ cholesterol-lowering milk for Unilever.
Milk Link claimed it raised processing capacity to a billion litres by acquiring Newlands Farm in Cornwall, Peninsular Milk Processors in Devon and 20% of Wiltshire’s Westbury Dairies during the year. Buying The Cheese Company after compiling its annual results boosted capacity to 1.6bn litres.
Chairman Jeremy Pope said a strong consumer focus was key to future success: “The industry is exposed to the impact of the EU’s Mid Term Review and increased competition, leading to further pressure on the raw material price of milk. As such, we must focus on the value of milk in product form.”
Sales were up 15% to £388m before acquisitions in the year to March 31. Pre-tax operating profit rose 41% to £11m.