First Milk farmer Co-op records solid performance

It seems the days of GB Co-op’s all recording real success are well and truly here.

First Milks Annual report and Accounts to 31st March 2020 are once again a very bright light with its progress and positive position significantly bolstered by its successful partnership with its main customer Ornua as well as other customers/partners for example Nestle and Yeo Valley.

Key indicators from the report:

Turnover up 4% to £282.8 million
Operating Profit up 4% to 7.5 million
Net debt down 20% to £33.1 million
Pension liability down 78% from £6.8 million to only £1.5million

First Milk has 700 members and processed 800 million litres of milk in the year with no member resignations and a que of people who want to join.