Key financial highlights include:
“Despite a very challenging economic and trading environment, the year was one of solid growth and development for Milk Link,” said Ronnie Bell, Milk Link chairman. “We ended the year financially, structurally and commercially stronger and, most importantly, we were able to increase returns to our farmer members. Our average price paid to members increased by c.4 pence per litre year on year, and for the second year in succession the processing interest payment represented a return in excess of 10% on members’ qualifying loans. This means that cumulatively over the last three years, we’ve now paid in excess of £10m to members in relation to their investment in the business.
“Looking forward, trading conditions will continue to be extremely difficult throughout the next financial year. This will result in both challenges and opportunities as increased market pressures impact on returns and accelerate the need for market rationalisation and consolidation. However, I believe that Milk Link’s established, vertically integrated business model and financial and commercial strength leaves us well placed to capitalise on opportunities that may arise, continue our growth and development, and ultimately come out of the downturn faster and steeper than many of our competitors. In doing so, we’ll provide our members with greater security, stability and sustainability.”
Source: Milk Link
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