UK milk processor Robert Wiseman Dairies said it expects full-year results to be “in line” with expectations.
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In a statement ahead of its AGM, the dairy company reported a 2% increase in sales volumes in the first three months of the fiscal year.
“Whilst costs have continued to increase in recent months, we remain confident that given the improving cream revenues and anticipated cost recovery from customers, we will deliver results for the year in-line with expectations,” the company said.
Chairman Alan Wiseman expressed concern about rising oil and packaging costs, and said that increases in the company’s selling prices were being implemented to recover these costs.
The company said it was encouraged by customer reaction to its Bridgwater dairy and volumes are building in line with expectations, and anticipated savings in haulage costs from reaching capacity of the first phase will be realised in full from this month.
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By GlobalData“We are confident that with a robust balance sheet, the most modern and efficient network of dairies and distribution centres in the UK, and the support of our customers, we can rebuild margins back to acceptable levels,” Wiseman added.
