Milk Link Report Profit Increase For 2010

UK - Milk Link has announced a 42 per cent increase in profits for the financial year ending 2 April 2011.
calendar icon 13 June 2011
clock icon 1 minute read

Milk Link stated a profit before tax of £15.1 million, £4.5 million (42 per cent) higher than the previous 12 month period.

The company also reported a turnover of £586 million, representing growth of 6.5 per cent (£36 million) as the annual volume of milk handled by the company grew to over 1.5 billion litres from 1.44 billion litres in the 2009/10 financial year.

Despite the acquisition of Cornish Country Larder in January at a cost of £7.1 million, Milk Link reported a £1 million fall in the company's net bank debt to £79.9 million.

Chief Executive of Milk Link, Neil Kennedy, described the company's performance over the year as "solid", adding "we remain cautiously optimistic about the trading outlook and we are focused on sustaining a competitive return to our Members."

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