British milk giant Robert Wiseman Dairies said earlier today [Tuesday] that it is confident that sales volumes and turnover for the full year ended 30 March are in line with market expectations.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In a trading statement, the firm revealed that higher than expected milk production off farms in the second half of the financial year, and the arrangements Wiseman put in place to cover an expected shortage of raw milk following the foot and mouth crisis, generated excess raw milk supplies. The disposal of these into weak secondary markets had a negative impact on operating margin of approximately £0.5m (US$0.71m).
However, Wiseman also pointed to strong sales to its major customers and an improving performance from its Droitwich operation.
“We are continuing with the supply trial with Sainsbury’s and the feedback from them so far is that our performance has been to their satisfaction,” the company added.
Full year results for the 12 months ended 30 March will be announced on 14 May.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
