Top dairies are set to hit milk profit targets

Two leading dairy companies say they are on track to hit profit targets as they go into the close period ahead of releasing interim results.

Robert Wiseman Dairies said it expected to post record turnover on record milk volumes by the year end in April, as a result of new business from Morrisons starting in October.

Analysts said full year pre-tax profit would hit the 24m mark, down from nearly 29m last year.

Dairy Crest also said performance was in line with expectations, which should see pre-tax profits for the year reach 76m, according to Numis Securities.

Marion Mulcahy, an analyst with the firm, said DC’s strong branded portfolio, including Countrylife butter and Yoplait yoghurts, had helped shield the company from some of the problems facing competitors.