Meadow Foods saw a 5% increase in profits and a 13% increase in turnover in the year to March 2012.

The company, which is the UK’s largest independent dairy, said operating profit reached £9.51m for the year to 31 March 2012, which is a 4.97% increase on the previous year.

Turnover increased by 13% in the same period to £340.9m.

Meadow Foods also eliminated net borrowings and committed £2.6m to capital investment projects in the coming year, said executive chairman Simon Chantler.

“While the wider economic conditions remain challenging, Meadow Foods has continued to deliver a consistent performance, which in turn has allowed the business to eliminate debt and make further capital investments,” said Mr Chantler.

“While the wider economic conditions remain challenging, Meadow Foods has continued to deliver a consistent performance, which in turn has allowed the business to eliminate debt and make further capital investments.”
Simon Chantler, Meadow Foods’ executive chairman

“These investments will bring further sustainable growth and stability to both our farmers and customers.”

Last month Meadow Foods gained planning consent for a major expansion of its milk processing and butter production facility at Chester, where the company has its headquarts. This will see an additional 5,300sq m of processing and storage facilities developed and the generation of up to 100 new jobs in the region, said Meadow Foods.

More on this topic

Meadow Foods announces January price rise

Keep up with the latest agricultural business news

Robyn Vinter on G+