Robert Wiseman bullish after milk contract wins
SCOTTISH dairy group Robert Wiseman said yesterday performance for the first quarter rose 8.5 per cent on the same period last year, thanks to a number of new contract wins.
The firm took on three large milk supply contracts with the Co-op and two Spar wholesalers, Cappers and Blakemore.
Robert Wiseman plans to increase capacity at its new Bridgwater facility to 375m litres per annum, costing it £7.5m, to cope with the increased demand. “We are hopeful this extra capacity will be on stream in early 2010,” the firm said in a statement.
It also reported debt levels slightly better than expectations.
Broker Investec Securities said it expects further volume gains from the new contracts, but does not anticipate much progress this year.
“We have managed our way through some major changes in the industry in the last few months,” said chairman Alan Wiseman.