British farmer-owned co-operative First Milk has announced a group turnover increase of 22 per cent to £252.7m for 2018.
The co-operative has today published its annual results for the year ending 31 March 2018.
Overall, figures show a profitable business with a strengthening balance sheet that is growing.
Financial highlights include a group turnover up 22 per cent to £252.7m (2017: £206.5m), net profit for the year of £3.2m (2017: £6.0m), capital investment of £3.2m across all sites in the year and total group capital and reserves up by £5.4m to £27.4m.
First Milk Chief Executive, Shelagh Hancock said the co-operative puts farmers "at the heart" of operations.
“This second year of positive trading results demonstrates that First Milk is consistently delivering stable financial performance and making solid progress on strengthening and growing the business,” Ms Hancock said.
“Critically, we have done this whilst putting our farmer members back at the heart of the business and, most importantly, delivering improved returns to our members.
First Milk have this year embarked on significant capital investment at its sites to support the growing dairy demand from consumers.
