Profit rises in difficult year for Graham’s The Family Dairy

Scottish milk processor and retailer Graham’s The Family Dairy made a pre-tax profit of £2.3m for the year ending 31 March 2021, up from £1.5m in the previous year.

Group operating profit reached £2.7m, up from £2.2m, while net assets rose slightly to total £6.5m.

Turnover for the group, which includes Scotland’s largest independent dairy, was down £1.2m on year-earlier levels at £123.2m.

See also: What does the future hold for dairy farming?

Graham’s has 100 farm suppliers and more than 700 employees, according to the report.

The directors’ report suggests the group remains well positioned for future developments and should be able to take advantage of continued opportunities.

Group strategic report

Managing director Robert Graham said the results showed continued growth, with solid performance across core ranges as well as growth for new product development over the past few years.

“Given the pandemic, business outlook was incredibly uncertain throughout the year, combined with running all dairy sites in Scotland and making sure that our staff were protected, while continuing to make sure that food was being delivered to customer shelves and fridges,” said Mr Graham.

“Our food service business was impacted during the year, though some of this was set off against increases in our retail business. This has contributed to a decrease in group sales by 1% to £123.2m with pre-tax profits of £2.3m.”