Meadow Foods dairy business in bullish mood with a strong set of results

North-west milk processor Meadow Foods says it is looking to recruit dairy farmers to join its supply group following a strong set of results for the year ending March 2008.

Meadow Foods saw turnover grow 22% to £243m with profits of £5m, after its acquisition of Cumbrian West Lakes Dairy Park earlier this year.

The deal added an extra 200m litres of milk to the business from the 150 Cumbrian farmers supplying West Lakes, doubling its milk field.

Managing director Paul Deakin said the firm now wanted to expand its footprint in Cumbria, the north-west and North Wales by signing up new farm contracts and was actively looking for other businesses to acquire.

Volatility in the world’s dairy markets had created demand from food mnaufacturers for secure, year-round supplies and Meadow Foods was aiming to capture a bigger share of this market, managing director Paul Deakin, said.

“The markets in which we operate have been very volatile in 2007-2008 and we expect this to continue. This turbulence, though, is crreating new opportunities. Cost pressures are a real issue for everyone in the dairy business this year and we are working hard to manage cost increases and grow our business through acquisition and additional volumes in all product areas.”