Farm Contractor & Large Scale Farmer
    Twitter LinkedIn
    • FREE Email Newsletters
    • About Us
    • Advertise
    • Contact Us
    • Magazine Subscriptions
    Twitter LinkedIn
    Podcast
    Farm Contractor & Large Scale Farmer
    • News
      • Arable & Agronomy
      • Dealership News
      • Environmental Land Management Scheme/Policy
      • Event News
      • Health & Safety
      • Machinery
      • People
      • World News
    • Farm Machinery
      • Amenity & Maintenance
      • Cultivations
      • Drilling
      • Grassland Equipment
      • Harvesting
      • Muck & Slurry
      • Sprayers
      • Telehandlers
      • Tractors
      • Tractor of the Year
      • Tyres & Tracks
    • Precision Farming
    • Markets & Policy
    • Profiles
      • Company Profiles
      • Reader Profiles
    • Livestock
      • Beef
      • Dairy
      • Sheep
    • Magazines
      1. December 2023
      2. Agritechnica Preview Supplement
      3. November 2023
      4. October 2023
      5. September 2023
      6. August 2023
      7. Drills & Seeds Supplement
      Featured

      December 2023 Issue

      By Matthew TiltNovember 21, 2023
      Recent

      December 2023 Issue

      November 21, 2023

      Agritechnica Preview Supplement

      October 30, 2023

      November 2023 Issue

      October 30, 2023
    • Events
    • Podcast
    Farm Contractor & Large Scale Farmer
    Dairy

    Trading profits show rapid progress at First Milk

    chrislyddonBy chrislyddonNovember 25, 20153 Mins Read
    Facebook Twitter LinkedIn Email

    First Milk has confirmed that its turnaround plan is delivering tangible results, with its financial performance in the six months ended 30 September 2015 showing significant improvement over the previous year.

    Operating profit for the first six months of the year was £1.1m compared to a loss of (£7.6)m for the same period last year – an improvement of £8.7m. It is anticipated that the results for the second six months to March 2016 will also show a positive operating profit – compared to an operating loss of £(12.3)m in second half last year. As a result for the current financial year as a whole, the business will also make an operating profit.

    Debt has continued to reduce, and at the end of September 2015 was £46.1m, compared to £60.7m as at March 2015.

    First Milk CEO Mike Gallacher commented, “The actions taken to reduce costs, improve quality, and drive operational performance are delivering results, with further progress planned over the next year. We are confident that this will deliver improved milk prices and a more sustainable business model for our farmer shareholders. My team and I are very aware of how tough it is at present on farm and the need to sustain this improvement trajectory to deliver benefits to our members.”

    NFU Scotland Chief Executive, Scott Walker said, “A successful First Milk is hugely important to the Scottish dairy industry as many Scottish milk producers are wholly dependent on First Milk as their milk purchaser. The turnaround plan has returned First Milk to profit and delivered a sustainable platform for the company but it is clear that, in doing so, much of the risk has now been passed back to members through an unsustainable price for their milk. In his comments, it is clear that Mr Gallagher recognises the severe financial position of his members and the need to deliver a much improved milk price that allows both First Milk’s producers as well as the company to be sustainable. That can’t come quick enough for many grass roots farmers.”

    “NFUS will continue to work with everyone who produces, sells and consumes milk to move towards a supply chain that delivers a fair reward for the risk taken by dairy farmers. And we will continue to work with First Milk on delivering the action needed to ensure that farmers in their Scottish milk field receive a price that allows them to see a future in milking cows.”

    Tweet
    Share
    Share
    Pin
    Share. Facebook Twitter LinkedIn Email
    Previous ArticleNSA and SVS join forces to highlight risk of Defra cuts to disease surveillance
    Next Article West Country Lamb hits Italian supermarkets
    chrislyddon

    Read Similar Stories

    Strategic partnership for sustainable milk production

    September 27, 2023

    Private sale marks the second highest price paid for Simmental bull

    August 30, 2023

    Keep a close eye on calf nutrition as grass quality varies this year

    August 29, 2023
    Most Read Stories

    Angus farming cousins introduce new app to automate farming admin

    November 30, 2023

    20 years of trading for Vogelsang UK

    November 30, 2023

    Lynx to introduce new weight block at Lamma

    November 30, 2023
    Farm Contractor & Large Scale Farmer

    The UK's leading agricultural machinery journal

    Twitter LinkedIn
    © 2023 Lewis Business Media. All Rights Reserved.
    Lewis Business Media, Suite A, Arun House, Office Village, River Way, Uckfield, TN22 1SL

    Privacy Policy | Cookie Policy | Terms & Conditions

    • Farmers Weekly
    • AA Farmer
    • Poultry News
    • Pig World

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “ACCEPT ALL”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsREJECT ALLAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
    cookielawinfo-checkbox-analytics1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Analytics" category .
    cookielawinfo-checkbox-functional1 yearThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Necessary" category .
    cookielawinfo-checkbox-others1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to store the user consent for cookies in the category "Others".
    cookielawinfo-checkbox-performance1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to store the user consent for cookies in the category "Performance".
    PHPSESSIDsessionThis cookie is native to PHP applications. The cookie is used to store and identify a users' unique session ID for the purpose of managing user session on the website. The cookie is a session cookies and is deleted when all the browser windows are closed.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    CookieDurationDescription
    _ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
    _gat_gtag_UA_31822138_191 minuteSet by Google to distinguish users.
    _gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    CookieDurationDescription
    OAID1 yearThis cookie is set when an AdsWizz website visitor have opted out the collection of information by AdsWizz service or opted to disable the targeted ads by AdsWizz.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT
    Powered by CookieYes Logo