UK milk processor Robert Wiseman Dairies said today (8 July) it has achieved a “satisfactory” performance in the first three months of its fiscal year as sales volumes increased.
Chairman Alan Wiseman is expected to announce an 11.6% increase in sales volumes for the first quarter when he addresses shareholders at the AGM later today.
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“Sales volumes have benefited from consolidation in our sector in the last twelve months and from continued growth with existing customers,” Wiseman is expected to say.
“Given our volume gains in the previous year were concentrated in June 2009, we would anticipate reporting lower like-for-like growth in volumes in subsequent periods this year. Sales volumes will benefit from the commencement of an additional 30 million litres of milk per annum to The Co-operative Group from August 2010.”
Despite competition in the middle ground sector being “intense”, the milk firm said has been successful in retaining volumes and will continue to look to preserve its market share in this area.
“Our financial position remains robust, with cash flows benefiting from the continued positive trading,” the company said.
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By GlobalDataWiseman and Andrew Dare will both retire from the board today.
