Higher profit for Muller UK and Ireland Group
© Tim Scrivener Milk processor and manufacturer Muller UK & Ireland Group saw operating profit rise to more than £25.8m in the year to 31 December 2021.
This was almost £8.7m up on the previous year’s performance. Net assets rose slightly to £348m.
After finance income and finance costs, there was a profit of almost £24.2m for division between the members of this limited liability partnership, compared with £16.5m in 2020.
The members all received a higher share of profit than in the previous year, with Robert Wiseman & Sons Limited taking almost £11.3m, TM UK Production Limited £1.79m and Muller Dairy (UK) Limited £11m.
See also: Outlook 2023 – New year to bring dairy profit challenge
Some of the Muller yoghurts and desserts brands had a drop in sales, following a Covid-19 boost the previous year. The second half of 2022 proved especially challenging in this part of the business, according to the annual report, as a result of inflation, particularly in energy costs.
Muller Milk and Ingredients delivered a full-year profit in line with expectations, said the report, despite difficult trading conditions relating to continuing Covid restrictions and driver shortages.
Labour and material shortages also affected the business, while trading conditions in the doorstep delivery business were difficult because of Covid restrictions.
Muller UK & Ireland Group had a monthly average of 7,176 employees during 2021, compared with ,7539 in the previous year.