Wiseman expects profit better than forecast

Robert Wiseman Dairies says it expects to finish the financial year ending 3 April with profits ahead of forecast.

Overall milk sales volumes were up 11% on the year, boosted by an extra 200m litres of business with the Co-operative Group and Spar wholesalers. The company said this was its largest gain in volume since its flotation in 1994.

Wiseman also said it had completed the final £10m phase ot its £100m dairy at Bridgewater, Somerset, and its new distribution depot at Amesbury, Wiltshire, would be fully operational by April.

Wiseman paid its second interim dividend of 12.25p a share on 1 April, a total payout of £8.7m.