UK: Wiseman H1 profits set to beat targets
By: just-food.com | 1 October 2009
Shares in Robert Wiseman Dairies rose in early trading today (1 October) after the UK milk supplier said it was "confident" half-year profits would beat expectations.
Wiseman, which supplies UK multiples including Sainsbury's and The Co-operative Group, said sales and volumes had come in above forecasts for the six months to 3 October, which had led to the upbeat tone on earnings.
Shares in the group were up 4.9% at 441p at 09:56 BST this morning.
Wiseman saw an improvement in the value of bulk cream, which the company said had recovered from a "very weak" period in the second half of the group's last fiscal year.
However, Wiseman warned that oil-related costs had increased in the first half of fiscal 2010. The company said there had also been "some sharp upward moves" in recent weeks in the Platt's resin index for HDPE, which affects the costs of plastic bottles.
Nevertheless, finance director Billy Keane said: "We are on track for a satisfactory set of interim results."
Wiseman is slated to issue its half-year numbers on 16 November.
Sectors: Commodities & ingredients, Dairy, Retail
Companies: Robert Wiseman Dairies, Sainsbury’s, The Co-operative Group
View next/previous articles
Currently reading -
UK: Wiseman H1 profits set to beat targets
1 Oct 2009 -
Related research
Company Financials: J. Sainsbury plc
The Company Financials offers insights into the financial performance of the company over last five years for about 1000 leading global companies. The datapack covers wealth of financial information relating to income statement, balance sheet, and ca...
Food Retailing - UK - November 2009
People want their grocery shopping to be convenient. But, in contradiction of popular myth, most people (85%) don't mind grocery shopping, although 35% admit that they find it a chore....
This report analyzes the worldwide markets for Milk in Thousand Metric Tons...
Related articles
The top stories on just-food this week
From PBM to PepsiCo, food makers in the US dominated the headlines this week. The sale of infant-formula maker PBM for US$808m highlighted the attractiveness of the category. PepsiCo became the latest to announce plans to cut salt, sat fat and sugar from its products, while bread and cereal makers in Australia outlined their own programme to cut salt. In Europe, Swiss firm Orior set out plans for an IPO, UK retailer Sainsbury's reported slowing sales and Danone admitted it will shake up its domestic dairy business. These were the most popular stories on just-food this week.
UPDATE: UK: Sainsbury's looks to non-food, store openings
Revenue growth at UK supermarket group Sainsbury's will likely be driven by non-food sales and new store openings as food inflation slows in the UK.
UK: Sainsbury's sees sales growth slow
UK supermarket group Sainsbury's has revealed that its quarterly like-for-like sales growth slowed during the final three months of the fiscal year as lower food prices and a cautious consumer environment took their toll.
There are currently no comments on this article
Be the first to comment on this article