Zenith Milk lays solid foundations

Monday, 18 June, 2001

By FWi staff

ZENITH Milk has published its first set of accounts, which cover the 17-month period ending 31 March, 2001.

The period includes an establishment phase when no milk trading took place, and 12 months of active trading.

In that time, sales topped 241m. The business marketed about 1.3bn litres of milk from 3500 members to over 100 customers.

Costs of milk sales, including payments to members and transport costs, amounted to 237m.

Administration costs reached 4.48m, of which 10% were one-off exceptional costs, says the company.

A profit of 133,000 was retained in the business.

“In just 12 months of trading we have established a solid foundation for future growth and security,” said Tony Kneafsey, finance director, adding that raising capital was a key aim.

“We have commissioned a full and independent review to develop our co-operative structure and to identify the most effective methods for raising funds to invest in growing our business.”