26 April 2015 | Online since 2003



20 March 2014|Dairy,Finance,News

First Milk confirms the payment of its year-end returns


First Milk confirms the payment of its year-end, return on investment, to members.

A strong performance over the last six months of the financial year has enabled First Milk to announce a further 3% return on capital for its members.

In October 2013 we increased the return to 5%, so for this year the total return to our members on their investment will be 8%.

In addition to the above payment, the First Milk Board will pay a 5% return on members’ preference shares.

These combined payments will see an average 1 million litre member receive £1200 in May. So together with the payment already made in October 2013, this will be equivalent to 0.25ppl of additional payments on top of the milk price for the year 2013-14.

Chairman Jim Paice commented: “First Milk is on its strongest footing for many years.

"Our strategic partnership with Adams Foods is now up and running. This not only provides a secure home for our cheddar in the UK, but importantly means that we can refocus our efforts onto areas such as exports and our newer added value products such as Lake District Quark.

"We are also investing in all our sites to increase capacity and reduce production costs, as well as meeting the requirements of our customers.

"As a Board we are excited about the prospects for both our industry and our business.”

Download




Comments


No comments posted yet. Be the first to post a comment

To post comment without approval login or register

Display name

Please enter your name

Email (optional)
Comment

Please enter your comment

Post Comment

Your comment submitted successfully.Please wait for admin approval.

Some error on your process.Please try one more time.



Jobs


15 April 2015
Account Manager (Field Sales) - Automotive Aftermarket Manufacturer
Engineering, Installation, Service, Technician, Mechanic, Caravan, LCV, Leisure, Motorhome, Automotive, Car, Truck, Light Com...

8 April 2015
Shift Engineer
Our management team have spent decades within the dairy and FMCG industries, and two of them grew up on farms....

10 April 2015
HGV Driver
Manor Farm Caravan Sales Brandesburton HGV Driver Wanted Driver must have experience in caravans or wide loads Excellent rate...

9 April 2015
Industrial & HVAC - Pipe Fitters,Mech Fitters,Fitter Welders
Pipe Fitter Welders - fabricating, fitting, welding dairy and process pipe work and welding using mainly TIG. Clearfield Ltd ...

15 April 2015
Lecturer in Agriculture (Crops and Mecha...
The Agricultural department has seen excellent growth over the last five years. This growth is going to continue with our rec...



Top stories you may have missed
10 April 2015 | Agri Safety

The permanent eradication of Bovine Viral Diarrhoea [BVD] in Scottish cattl...


10 April 2015 | Dairy

The abolition of milk quotas in Europe on 1st April has resulted in a numbe...


10 April 2015 | Cattle

The top 14 milk producing countries in Europe will increase their productio...


10 April 2015 | News

Matt Ware is the NFU's head of government and parliamentary affairs, based ...


10 April 2015 | Arable

There is a 'desperate need' to improve farmgate returns given low incomes a...


9 April 2015 | Arable

Rapid stem extension, after a slow start to spring, is likely to create spl...


9 April 2015 | Finance

The time has come for landlords to expect to see reductions in farm rents, ...


8 April 2015 | Cattle

Cogent’s reputation as a source of the highest calibre sires has been enhan...


8 April 2015 | Arable

The spread of exotic and aggressive strains of a plant fungus is presenting...


7 April 2015 | Animal Health

The FSA’s new Food Crime Unit wants the industry to share information, some...