UK dairy processor Milk Link has reported an 8.2% rise in full-year EBITDA thanks to higher turnover and cost-reduction measures.
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EBITDA totalled GBP30.5m (US$60.2m) in the year ended 29 March, up from GBP28.2m booked in the previous year.
Turnover at the farmer-owned dairy processor increased 2.8% to GBP523m, while operating costs fell to GBP83.6m from GBP84.7m, despite what the company described as “significant increases in input costs”.
“The last year was one of continued growth and delivery for Milk Link. We ended the year financially and commercially stronger and most importantly we were able to translate this into increased returns for our farmer members,” Ronnie Bell, Milk Link chairman, said.
“Looking forward, although the wider dairy industry faces considerable challenges, I believe that Milk Link’s financial and commercial strength leaves us well-positioned for the future. Above all, we remain totally committed to our strategy of vertical integration and, by adding value through processing, making more of our members’ milk.”
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By GlobalData
