Profits and turnover soar at North Yorkshire dairy supplier

Milk supplier Layne’s Dairies has “continued to invest heavily” in the business following a year of growth in both profits and turnover.

Based in Boroughbridge, the company operates throughout the whole of the UK providing raw and processed milk and cream to numerous wholesalers, manufacturing companies, catering and retail outlets.

For the financial year ending 30 April 2018, Layne’s Dairies saw overall turnover increase by more than £14m, from £68m to £83m. During this period, milk prices continued to increase, peaking in December 2017, but volumes remained relatively stable.

Similarly to the rise in milk prices, farm gate prices also increased, and as a result, the company’s operating profit and pre-tax profit rose. Pre-tax profits grew £47,000 – from £85,828 to £132,468. 

In the recently filed accounts, the directors also noted that they have “continued to invest heavily in the business” with capital expenditure on tangible assets in the year totalling £396,684.

The directors said: “This should ensure continued improvement in efficiency of the dairy throughout the coming years.”

For the current financial year, the directors expect “the general level of activity in volume terms to remain constant, although recent market trends would suggest a decrease in price compared to the prior year. This is as a result of overall volumes in the market and will require a constant monitoring of changes prices and margins.”