Record milk volumes at UK dairy group Robert Wiseman Dairies is set to drive annual sales above the company’s targets, the company said today (30 March).
Wiseman said milk volumes were up 11% on a 52-week basis and should mean the company beats its volumes and revenues targets for the year to 3 April.
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“This will be a new record for the group and significant and sustained capital investment in advanced dairy and distribution capacity has again proved to be important in allowing us to accommodate this growth,” the company said.
Wiseman said the value of bulk cream had stabilised after the “surge” in prices in the last quarter of 2009 had improved margins. The company, however, said the price hike is “unlikely” to repeat itself in the year ahead.
Finance director Billy Keane added: “We are on track for a very satisfactory set of results for the year to 3 April. Looking forward to next year, we are in good shape with volumes growing, a sound balance sheet, low gearing and state-of-the-art facilities.”
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By GlobalDataWiseman will report its preliminary results on 17 May.
