Shares in UK milk supplier Robert Wiseman Dairies rose this morning (28 January) after the company said volumes and revenues were ahead of expectations.
The company, which supplies milk to the likes of Tesco and The Co-operative Group, said milk volumes were up 10.5% in the second half of its fiscal year to date.
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The processor said it the business was benefiting from winning new retail contracts in the wake of last summer’s collapse of Dairy Farmers of Britain
Wiseman predicted last autumn that its margins would be boosted by better returns from bulk cream and the forecast has been borne out as global dairy commodity prices rise.
“We are confident that, with our new capacity at Bridgwater dairy now on stream and our new depot at Amesbury operational, we are in good shape going forward,” the company said.
Shares in Robert Wiseman were up 2.9% at 490.5p at 10:57 BST this morning.
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