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Scottish Milk profits up

3 July 1998

Scottish Milk profits up

SCOTTISH Milk made a surplus of £702,000 after tax in the year to Mar 31, 1998, up 70% on the previous 12 months.

This capital was transferred to reserves to pay for assets taken over on vesting day.

This helped the Scottish Milk Group – which includes Scottish Milk Products, Livestock Services and a 36% holding in Drakemire Dairy Foods – record an after-tax surplus of £1.62m.

The period was a "watershed" in the de-regulated milk era, with weak markets and the strong pound pushing prices down, said the co-op.

The price it paid for "standard" milk of 4.10% butterfat and 3.30% protein fell from 22.25p/litre at the start of the year to 20.37p/litre at the end.

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  • News

Scottish Milk profits up

02 July 1998
Scottish Milk profits up

By FWi staff

SCOTTISH Milk made a surplus of £702,000 after tax in the year to 31 March, up 70% on the previous 12 months.

This capital was transferred to reserves to pay for assets taken over on vesting day. It helped the Scottish Milk Group – which includes Scottish Milk Products, Livestock Services and a 36% holding in Drakemire Dairy Foods – record an after-tax surplus of £1.62 million.

The period was a “watershed” in the de-regulation milk era, with weak markets and the strong Pound pushing prices down, said the co-op.

The price it paid for “standard” milk of 4.10% butterfat and 3.30% protein fell from 22.25ppl at the start of the year to 20.37ppl at the end.

    Read more on:
  • News
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