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Rising to the challenge: First Milk in its Annual Report to March 31 2020 reports increased turnover and profit
DELIVERING: Dairy giant First Milk ONE of the key players in the Cumbrian dairy industry, First Milk, has delivered strong financial results for the year ending March 31 2020. The dairy giant in its Annual Report and Accounts show that the co-operative continues to deliver progress across the key financial areas of turnover and profit, while also increasing capital investment and member returns. Key highlights include: Group turnover up six percent to £299.5m (2020: £282.8m); Operating profit up 8% to £8.1m (2020: £7.5m); Net profit up 24 percent to £5.6m (2020: £4.5m); Capital investment of £7.8m in the year (2020: £5.3m); Net bank borrowings stable at £33m (2020: £33.1m); Member Premium increased to 0.5ppl (2020: 0.25ppl); Announced commitment to Net Zero 2040 and launched a leading regenerative agriculture programme; 93 percent o
New appointment: Michael Fletcher joins First Milk FARMER S co-operative, First Milk has this week announced the appointment of Michael Fletcher as a non-executive director. Michael is currently Chief Commercial Officer at Co-op Food where he has led the Trading, Product Development, Technical, Supply Chain and Sourcing Policy teams in the development and deployment of the Co-op Food proposition. His current focus is on the development of Co-op’s new business propositions, the introduction of an SAP Enterprise platform and the delivery of their ambitious Climate Change strategy and broader social goals. Prior to joining the Co-op, he worked at Tesco in a number of senior director-level commercial roles, both in the UK, Europe and Asia.
First Milk increases price for fourth consecutive month farminguk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from farminguk.com Daily Mail and Mail on Sunday newspapers.