Wiseman Milking It
Thrifty Scots-based Robert Wiseman Dairies have just released what they describe as a "very satisfactory" set of results for their financial year ending Apr 3rd 2010.
They're a bit more than satisfactory. Some of the highlights include sales volume of a record 1.77 billion litres and operating profit up by 43.1% to GBP50.3 million.
Operating margin per litre improved significantly to 2.84ppl from 2.17ppl in 2009, they say. That's right they're making almost 3 pence on every litre they handle.
A GBP6 million fine imposed by the OFT in 2007 (over unproven allegations of price-fixing) has now been reduced to just GBP4.2 million, they also gush.
There's no mention in their press release of passing any of these bumper earnings onto their suppliers in the form of a price increase however. You lot should just be thankful for having a milk buyer at all.
Discuss.
They're a bit more than satisfactory. Some of the highlights include sales volume of a record 1.77 billion litres and operating profit up by 43.1% to GBP50.3 million.
Operating margin per litre improved significantly to 2.84ppl from 2.17ppl in 2009, they say. That's right they're making almost 3 pence on every litre they handle.
A GBP6 million fine imposed by the OFT in 2007 (over unproven allegations of price-fixing) has now been reduced to just GBP4.2 million, they also gush.
There's no mention in their press release of passing any of these bumper earnings onto their suppliers in the form of a price increase however. You lot should just be thankful for having a milk buyer at all.
Discuss.
