Wiseman Half Year Results

15/11/10 -- Scottish dairy group Robert Wiseman have released their half year results to October 2 today, reporting a 3.5% drop in profits to GBP20.2 million.

That's probably just be the tip of the iceberg, as they warned on full-year profits in September, saying that a GBP7 million hit was on the cards for H2 of this year, followed by a further GBP16 million hit potentially looming for 2011/12.

One of the main reasons for the forthcoming drop in profits is thought to be Wiseman's having to slash the terms of it's new contract with Tesco (who else) in order to retain their business.