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Costs impact profits at Wiseman
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12/05/2008
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Dairy group Robert Wiseman said today (12 May) that it had faced cost and revenue pressures that will impact its profitability.
Reporting its results for the 12 months ended 29 March, chairman Alan Wiseman said the outcomes were “satisfactory”.
He went on: “However in recent months we have faced an accumulation of cost and revenue pressures that will, disappointingly, impact our profitability in the current year.”
Talking of the company’s new Somerset dairy, he said: “We are very pleased with the fantastic facility we have created at Bridgwater, which we believe to be the most modern, efficient and environmentally advanced fresh liquid dairy in the world. Despite short-term margin pressures, we are confident that the business is in good shape with the Bridgwater facility now operational. We strongly believe this will provide us with the platform to continue our successful growth in the period ahead."
Among its financial highlights, Wiseman instanced sales volumes, up 4.1% to a record 1.52 billion litres and turnover, up by 19.3% to £722.0 million (2007 : £605.3 million). Operating profit was, however, down by 11.3% to £31.6 million (2007 : £35.7 million).
Operationally, Wiseman said it has begun new contracts with Booths and Aldi, increased business with the Co-op, extended its contract with Somerfield and was successfully working with Tesco and Sainsbury's.
It had also trialed running vehicles on LPG and bio-diesel.
Costs impact profits at Wiseman
Dairy group Robert Wiseman said today (12 May) that it had faced cost and revenue pressures that will impact its profitability.
Reporting its results for the 12 months ended 29 March, chairman Alan Wiseman said the outcomes were “satisfactory”.
He went on: “However in recent months we have faced an accumulation of cost and revenue pressures that will, disappointingly, impact our profitability in the current year.”
Talking of the company’s new Somerset dairy, he said: “We are very pleased with the fantastic facility we have created at Bridgwater, which we believe to be the most modern, efficient and environmentally advanced fresh liquid dairy in the world. Despite short-term margin pressures, we are confident that the business is in good shape with the Bridgwater facility now operational. We strongly believe this will provide us with the platform to continue our successful growth in the period ahead."
Among its financial highlights, Wiseman instanced sales volumes, up 4.1% to a record 1.52 billion litres and turnover, up by 19.3% to £722.0 million (2007 : £605.3 million). Operating profit was, however, down by 11.3% to £31.6 million (2007 : £35.7 million).
Operationally, Wiseman said it has begun new contracts with Booths and Aldi, increased business with the Co-op, extended its contract with Somerfield and was successfully working with Tesco and Sainsbury's.
It had also trialed running vehicles on LPG and bio-diesel.
Costs impact profits at Wiseman
Dairy group Robert Wiseman said today (12 May) that it had faced cost and revenue pressures that will impact its profitability.
Reporting its results for the 12 months ended 29 March, chairman Alan Wiseman said the outcomes were “satisfactory”.
He went on: “However in recent months we have faced an accumulation of cost and revenue pressures that will, disappointingly, impact our profitability in the current year.”
Talking of the company’s new Somerset dairy, he said: “We are very pleased with the fantastic facility we have created at Bridgwater, which we believe to be the most modern, efficient and environmentally advanced fresh liquid dairy in the world. Despite short-term margin pressures, we are confident that the business is in good shape with the Bridgwater facility now operational. We strongly believe this will provide us with the platform to continue our successful growth in the period ahead."
Among its financial highlights, Wiseman instanced sales volumes, up 4.1% to a record 1.52 billion litres and turnover, up by 19.3% to £722.0 million (2007 : £605.3 million). Operating profit was, however, down by 11.3% to £31.6 million (2007 : £35.7 million).
Operationally, Wiseman said it has begun new contracts with Booths and Aldi, increased business with the Co-op, extended its contract with Somerfield and was successfully working with Tesco and Sainsbury's.
It had also trialed running vehicles on LPG and bio-diesel.
Costs impact profits at Wiseman
Dairy group Robert Wiseman said today (12 May) that it had faced cost and revenue pressures that will impact its profitability.
Reporting its results for the 12 months ended 29 March, chairman Alan Wiseman said the outcomes were “satisfactory”.
He went on: “However in recent months we have faced an accumulation of cost and revenue pressures that will, disappointingly, impact our profitability in the current year.”
Talking of the company’s new Somerset dairy, he said: “We are very pleased with the fantastic facility we have created at Bridgwater, which we believe to be the most modern, efficient and environmentally advanced fresh liquid dairy in the world. Despite short-term margin pressures, we are confident that the business is in good shape with the Bridgwater facility now operational. We strongly believe this will provide us with the platform to continue our successful growth in the period ahead."
Among its financial highlights, Wiseman instanced sales volumes, up 4.1% to a record 1.52 billion litres and turnover, up by 19.3% to £722.0 million (2007 : £605.3 million). Operating profit was, however, down by 11.3% to £31.6 million (2007 : £35.7 million).
Operationally, Wiseman said it has begun new contracts with Booths and Aldi, increased business with the Co-op, extended its contract with Somerfield and was successfully working with Tesco and Sainsbury's.
It had also trialed running vehicles on LPG and bio-diesel.
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Author
Ken Hurst
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