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Milk Link releases trading update
Published 2 November 11
Milk Link has released its six month trading update for the period ending 30 September. Financial highlights include:
- Turnover at £311.8m, £28.8m (10.2%) more than the same period ending September 2010.
- Net debt reducing by £5.2m compared to the same period in 2010 to £85.8m.
- An additional £16.9m being paid to farmers compared to the same period ending September 2010.
In addition, the update comments on new investments including Milk Links joint venture with Volac in whey processing. The trading update indicates that Milk Link and Volac will be looking to launch a new branded whey permeate at the Food Ingredients Europe trade show in Paris later this month.
Of interest in the update is comment on sales of its branded extra mature Cheddar, Tickler. A new advertising campaign is set to start and there have been new products aimed at the US market with versions of Tickler with added Red Pepper or Red Onion.
For more information on the trading update, please click here.