Higher milk prices helped Europe’s largest milk recording and testing organisation, NMR, increase profits during the first-half of the 2008/09 financial year, it has been announced.
Net profit between April and September increased to £353,000, some 400% more than the same period in 2007. Turnover increased by 10.6% to £7.7m.
The company said the increase was due to a combination of more demand for its core milk recording and disease testing services, improved milk prices and a drive from milk buyers to secure supplies from fully recorded herds.
“The increased cash generation has enabled us to expand into new complementary services such as the recently-launched Johne’s screening programme,” NMR group managing director, Andy Warne said.
“Using the individual milk sample collected for milk recording, we are providing quarterly Johne’s tests for each cow in a quest to help vets and producers get control of this disease estimated to be affecting – to some degree – 50% of our herds.”