UK milk supplier Robert Wiseman Dairies booked rising annual sales today (18 May) but said earnings fell by more than 8%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company, which supplies retailers like Tesco and The Co-operative Group, said turnover climbed 17.4% to GBP847.7m (US$1.3bn) during the 12 months to 4 April.
Adjusted operating profit was sown 8.6% to GBP35.1m, with operating profit per litre falling to 2.17ppl from 2.53ppl a year earlier.
Nevertheless, Wiseman said margins had improved during the second half of the year. First-half margins stood at 1.74ppl but higher selling prices and a cut to raw milk prices boosted margins to 2.55ppl in the second half of the year.
Chairman Alan Wiseman said: “The overall results for the year are satisfactory given the decline in margins experienced in the first half of the year. We are confident of growing volumes and continuing to rebuild margins over the medium-term.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
