Another set of excellent result for First Milk

First Milks annual accounts to year end 31^st March 2021 are another set of excellent results which its members should be proud of.

 

Ten years ago, few would have predicted that First Milks turnaround would have resulted in its member milk price featuring in the top quartile of GB farmgate prices and have a long waiting list of farmers keen to leave their independent milk purchaser to join the Co-Op.

  

Key Result Points as follows:

 

• Net profit increase by 24% to £5.6m (£4.5m in 2020).
• Operating profit increased by 8% to £8.1m (£7.5m in 2020).
• Group turnover increased by 6% to £299.5m (£282.8m in 2020).
• Capital investment £7.8m in the year with commitment to invest £14.4m this year.
• 93% of members have voluntarily signed up to the First4milk pledge guaranteeing dairy cows access to grazing land.
• An ambitious commitment to be net zero by 2040.