Dairy Farmers of Britain has announced it made a loss of £3.6 million (after finance costs and tax) in the 12 months to March 2008.

The figure, outlined in the co-op’s annual report and accounts, was worse than an equivalent loss of £2.6m in 2006/07 and was largely due to exceptional costs increasing from £1.91m to £3.97m as part of a planned business improvement programme.

There was also a fall in operating profit before exceptional costs, from £6m in 2006/07 to £4m in 2007/08.

Despite the seemingly gloomy figures, DFoB said the trading performance was slightly better than envisaged in the three-year business plan and the co-op was still on target to meet the aim of breaking-even before tax in the current financial year.

DFoB members can read the report on the DFoB website, or can request a printed copy by calling 08700 108181.