First Milk is increasing its standard litre manufacturing and liquid pool prices to 32.5ppl from the 1st of December 2013.
Over the last few months the company has delivered improved profits from its core business and diverted an increased proportion of its volume into skimmed milk powder to take advantage of attractive returns. All these actions have contributed to supporting the latest price increases.
In addition, as delegates heard at the company's annual conference last week, First Milk is also seeing significant progress from a focus on brand development, lifestyle nutrition, the out of home sector and exports.
First Milk's chairman Sir Jim Paice commented,
"I was extremely proud to be confirmed as chairman by members at the AGM last week. My ambition is to chair a business which ensures that First Milk members get the best return from the totality of their involvement and ownership of this business.
"If I am going to achieve this ambition it means that we need to build commercial partnerships, it means driving exports, it means always looking for added value, and most important of all it means constant liaison with members.
"We start a round of member meetings this Thursday in Wales, and as I work my way around the country over the coming weeks, I hope to meet as many members as possible."
Notes to editors
• The liquid pool price will increase by 0.65ppl from 01 December to 32.5ppl
• The manufacturing pool price will increase by 0.5ppl from 01 December to 32.5ppl
• These increases comes on top of a 1ppl increase for both pools from 01 November
• This is the 6th price increase for First Milk members since April
• First Milk has also paid a record return on investment for members of 8% in 2013
About First Milk
First Milk is the UK's only major dairy company, 100% owned by British farmers. It supplies a wide range of dairy products and dairy ingredients to customers in both national and international markets including block cheeses, soft cheeses, raw milk, butter, skimmed milk powder, whey proteins and sports nutrition brands.
It generates annual revenues of £530 million (2012/13 figures) and is headquartered in Glasgow with eight manufacturing sites across England, Scotland and Wales employing a total of 667 people.
First Milk's aspiration is to provide consumers with great-tasting nutritious food, while delivering value for every part of its farmers' milk. As a business with a passion for innovation and sustainability, it is constantly seeking fresh ways of working with partners across the supply chain to drive pioneering solutions to industry challenges.
A copy of First Milk's sustainability report is also available to download via its website, www.firstmilk.co.uk/sustainability
For media enquiries, please contact:
Sacha Boljevic, Communications Executive, First Milk Ltd.
E: SachaBoljevic @ firstmilk.co.uk
DL: 0141 847 6786
M: 07984 349 936