Mustoe Encouraged by Momentum at First Milk

Speaking to members and guests at First Milk's AGM conference in Ayrshire yesterday (Tuesday 05 October), chairman Bill Mustoe said:"First Milk is a very different business to the one I joined eleven months ago. When I meet our employees or visit one of our sites, there is now a real and tangible passion to drive cash returns for our farmer shareholders.

"We have made progress since last year's AGM across a range of areas including strengthening the leadership of the company, lowering our cost base, improving our commercial margins, growing our branded sales and developing a number of new partnerships. The future is simply about building on that momentum to further improve the position of the business.

"I also want to thank Roger Evans, Mike Gorton and Richard Twose who have stepped down as directors today. I have greatly valued their counsel to me since I have been chairman.  I also would like to welcome the new farmer directors - Nigel Evans, Mark James and Simon Weaver - onto the Board."

Ends

Notes for editors

Other speakers at the event in Kilmarnock included:
                   

  • Kate Allum, chief executive First Milk;
  • David Evans, head of agriculture, Morrisons supermarkets
  • Paul Campbell, general manager: strategy, Fonterra
  • Ian Potter, dairy industry commentator

In a new move, First Milk will release a half-year trading update (covering the six month period to 30 September) in November.

For further information, please contact:
Paul Flanagan on 07767 241452

6 October 2010

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