Shares in Robert Wiseman Dairies dipped this morning (17 May) despite the UK milk processor posting a jump in full-year earnings.
The company, which supplies milk to the likes of Tesco and Sainsbury’s, reported a 59.9% rise in pre-tax profits to GBP49.2m (US$70.8m) for the year to 3 April.
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Operating profit was up 43.1% to GBP50.3m, driven by a 4.5% rise in turnover to GBP886.2m. Volumes reached a “record” 1.77bn litres, an increase of 9.1% on the year.
However, Robert Wiseman admitted that profits had been benefited by high prices of bulk cream and revealed that there was no certainty that trend would continue.
The milk processor also warned of rising fuel and plastic costs.
Shares in Robert Wiseman were down 0.9% at 479p at 09:00 BST this morning.
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By GlobalDataClick here for the full statement from Robert Wiseman.
