Price rises hit Dairy firm profit
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Manufacturing News, Source : TheManufacturer.com
Published : 12 May 2008 15:13
Robert Wiseman Dairies warns that the soaring costs of raw materials, energy, utility and fuel costs will have negatively impacted on its operating profits for the current financial year to the tune of £8.5 million.
The firm, which supplies Sainsbury’s and Tesco, said that delays in implementing product price rises to combat the input price rises would result in three million pounds’ worth of damage to profits in the first quarter of the year, with continued rises likely to deliver a further £2 million profit hit.
Chairman Alan Wiseman remains confident, however, saying that the firm’s new Somerset dairy would provide a “platform to continue [the company’s] successful growth in the period ahead.”
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