First Milks results look solid

First Milk have released their 31^st March 2019 financials which given they were made public in July is certainly a seismic improvement from the years when they were published in October and November for fear of loosing members.

Turnover + 7.8% to £272.3m

Operating profit £2.7m (£3.2m in 2018)

Operating profit as a % of turnover 2.6% and stable.

Nett Debt reduced by £3.8m in the year to £41.1m

The increase in turnover is primary attributed to Ornua securing the Sainsburys cheese business plus growth in exports, to 21 countries.

All in all a good solid set of financials.