Arla Foods’ profits double

ARLA FOODS UK has announced its first financial results since it was formed from the merger of milk processors Arla and Express Dairies last October.
 
Interim pre-tax profits for the six months ending Mar 31, which include five months operating as the merged business, were down 18% to £5m on the preceding half year.
 
However, after taking into account almost £12m of exceptional costs associated with the merger, underlying profits more than doubled to £21.1m.
 
Sales increased from £324m to £698m, with strong growth in the firm‘s spreads and value-added milk brands.
 
Lurpak sales grew 10%, while Anchor Spreadable was up 13%. Cravendale, its filtered fresh milk brand, increased by 23%.
 
For more details see the Business section in this week‘s FARMERS WEEKLY.