Over the course of this financial year, First Milk has made significant progress and the business continues to improve its trading performance. Whilst milk price remains our main focus, this performance has provided us with the opportunity to pay out a return on our members' investment in First Milk.
The return will be paid out with the January milk cheque at an annual interest rate of 3% for active and retired members.
Chairman Bill Mustoe, commented: "As we have made moves to develop First Milk, a key aim for the Board and Executive team was that we start to establish a track record of regular returns on capital invested in the business. The purpose of a co-operative is to do the best for its members so we are paying this out now, rather than waiting until the year end as most organisations do, as it's better off in their pocket, especially at this time of year."
11 January 2011
For further information, please contact:
Jill Coyle 07825 625205 / Paul Flanagan 07767 241452