August 7, 2008

 

DFB posts GBP 3.6 million loss
   
  

Dairy Farmers of Britain (DFB), a British dairy company, has posted a loss of GBP 3.6 million in the year ending March 2008.

 

The loss was despite an operating profit of GBP 4 million that saw an investment return of GBP 3 million in excess.

 

Revenues reached GBP 562 million due to increases in milk prices and the development of new milk contracts with supermarket giant Tesco.

 

The figures are in line with the company's expectations after a three-year reorganisation that costs nearly GBP 4 million.

 

DFB expects to break even this year and hopes to earn a profit in 2009 once the benefits of the changes spread across the business. The company is also looking to push its retail customers to go further with recent price increase to offset rising production costs.

 

US$1 = GBP 0.513 (August 7, 2008)

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