Milk Group grows fast
MAJOR recruitment drives have helped the Milk Group record the sharpest growth in performance in its seven-year history.
In the year ending March 2001, turnover increased by 25% to £123m. Operating profit doubled to £1.5m and pre-tax profit on ordinary activities rose to £1.2m.
Membership increased by one-third to 1000 and traded milk volume climbed by a similar amount to 900m litres. The company also processed 21% more milk, a total of about 135m litres, delivering 60% of the total operating profit.
The companys processing arm, Nene Valley Foods, recorded a 20% increase in sales volume. Performance was boosted by the purchase during the year of Somerset-based soft cheese maker Lubborn Cheese for £7.5m.
The company aims to more than double its traded milk volume in the coming months to 2bn litres. *