Dairy Farmers of Britain aims to launch a focused strategy to grow its business in October, following its first full year of operation.

The plan will be the culmination of an internal strategic review of the co-operative. In its annual report, DFB chief executive Malcolm Smith said: “At the end of October we will have a strategy in place. We have to add value to products and get closer to our retail customers and consumers.”

Smith said DFB was also heavily involved in a campaign to raise milk prices: “Milk prices will have to rise in the autumn. We are working with our customers to get the whole milk market up, because most farmers are losing money. We are also working hard to get cheese prices up for our members. Producers have had a hard time and we are discussing raising prices with retailers.”

DFB reported turnover of £393m and
operating surplus of £5.6m in the year to March 31. It said it had invested £6m in its Lubborn Cheese facilities and had cut staff by 10% at its Nantwich HQ to reduce costs and improve efficiency and service. Smith believed further cuts would be unnecessary.