National Milk Records posts solid profits

Net profits at National Milk Records are up by more than £50,000 in the year to 31 March 2012, with shareholder dividends increasing to 2.1p a share.

Turnover at NMR is up by more than £1m to £17.881m after a number of investments including a new milk testing site in Wolverhampton which will consolidate its current testing facilities. The facility was bought for £475,000 and NMR has invested £820,000 in refurbishment.

“The global backdrop of increased demand for quality food combined with the need for food traceability creates favourable market conditions in the medium term,” said NMR managing director Andy Warne.

“In the short term the UK milk price is creating challenging conditions for UK farmers but we remain confident that our expertise and solid financial base, combined with our diverse product range, positions NMR for a sustained period of growth.”

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