Company which buys milk from 270 Cumbrian dairy farmers hails 13 per cent increase in turnover (From The Westmorland Gazette)

Company which buys milk from 270 Cumbrian dairy farmers hails 13 per cent increase in turnover

11:00am Tuesday 8th January 2013 in News By Allan Tunningley

MEADOW Foods, which buys its milk from 270 Cumbrian dairy farmers, has reported a 13 per cent increase in turnover to £340.9m.

Operating profit was £9.51 million - up 4.97 per cent, for its last financial year.

The private company, based in Chester, has also announced that it has eliminated net borrowings while committing £2.6m to capital investment projects in the coming year.

The investments are designed to further increase capacity and efficiencies at its manufacturing facilities.

Simon Chantler, executive chairman, said: “While the wider economic conditions remain challenging, Meadow Foods has continued to deliver a consistent performance.

“These investments will bring further sustainable growth.”