Company Reports

Annual Report 2015/16

Chairman's statement: "The financial performance of the business improved significantly   in the year to 31 March 2016 reflecting the results of the turnaround plan executed by the       new management team, and the focus on delivering operational efficiencies and quality           improvements in the core business."

Annual Report & Financial Statements 2015/16


Annual Report 2014/15

Chairman's statement: "The financial performance in the year to 31 March 2015 was materially affected by the decline in market values impacting all areas of the business as well as performance issues in a number of areas. The level of losses incurred was not acceptable and the Board have taken steps to ensure that they do not recur."

Annual Report & Financial Statements 2014/15



Annual Report 2013/14

Chairman's statement:  "In the year to 31 March 2014 the business benefited from increasing returns or dairy products and underwent significant strategic changes."

Financial Highlights 2013/14

Full Financial Statements 2013/14



Annual Report 2012/13

Chairman's statement:  "As members will be fully aware, the year to 31 March 2013 was a tough one for the entire dairy industry.  Despite these challenges we continue to make progress towards our goal to reshape First Milk."

Financial Highlights 2012/13

Full Financial Statements 2012/13




Annual Report 2011/12

Chairman's statement:  "We have set out a clear path to develop First Milk into an added value food business and 2011/12 was notable for the opportunities we realised, as well as the delivery of a robust financial performance in tough market conditions."

Financial Highlights 2011/12

Full Financial Statements 2011/12




Annual Report 2010/2011

Chairman's Statement: "The business has made susbstantial progress in 2010/11. Financially we are strong with improved profitability, a more competitive milk price, a sound balance sheet and lower net bank debt."

Financial Summary & Highlights

Full Financial Statements



Trading Update

Chairman's Statement: This is the first time that First Milk has produced half-year results and they are a good set of figures, demonstrating continuing momentum. We have laid out a strategy to drive shareholder returns, grow our brands, diversify our product and market mix, lower our cost base and seek value in partnerships. The results on top of milk price rises of 2.2 pence per litre during 2010, confirm that we are delivering against this strategy.

Trading update 2010 PDF



Annual Report 2009/2010

Chairman's Statement: "Overall, the business made progress during the year to 31 March 2010. Financially, we are in a stronger position, with improved profitability, a sound balance sheet and reduced net debt."

Financial Summary & Highlights PDF

Full Financial Statements PDF