UK's Milk Link announces strong results

摘要

The Milk Link co-operative of the UK has announced annual results which show an increase in its turnover and pre-tax profit. Despite challenging economic conditions, the results also show a reduction in borrowings. "We ended the year financially, structurally and commercially stronger and, most importantly, we were able to increase returns to our farmer members," says Ronnie Bell, Milk Link chairman.rnTurnover increased by 4.6% to £547 million (€638.6m) while pre-tax profit rose by 13.5% to £10.1 m. The company's net bank debt fell by £8.5m to £76.1 m, with member funds rising to £60.9m at the year-end. An average of £0.256 (€0.30) per litre is paid to Milk Link members. This is an increase of around 4ppl.rnThroughout the year, Milk Link took steps to ensure it won more business, the company says. This included securing a long-term contract for a full range of cheddars into Waitrose with additional volumes of Stilton going into Sainsbury's and Marks & Spencer. The volume of balancing milk for the likes of Wiseman and Aria also increased.