Volac Announces Progress In Its Performance- Results 2011/12

 

James Neville, Chief Executive of Volac, says: “We have had a very positive year and, whilst commodity prices have been high, our core success has been delivered by leveraging our knowledge and know how in dairy nutrition combined with our planned increase in exports and in the performance of our overseas operations and joint ventures. “There continues to be strong demand for our nutrition products which deliver improved productivity and health in livestock and help people to lead healthier and more active lives.”

 

“We are particularly pleased with the performance of our DV Nutrition joint venture with leading Dutch Cooperative DOC Kaas where turnover increased by 37% in the financial year due to the increased demand for our dairy nutrition products.”

 

In the last financial year, 2011-2012, Volac cites its main achievements as follows:

 

- A significant increase in profit from overseas operations in The Netherlands, Malaysia and China was the main contribution to Volac’s improved profit performance.

 

- A 38% increase in export sales revenue from UK manufacturing sites 

 

- The commencement of production at its Milk Link Volac Ingredients (MVI) joint venture at the Taw Valley Creamery

 

- An increase in employee numbers of 4% over the financial year 

 

- The involvement in a number of dairy industry initiatives to develop a sustainable dairy industry 

 

In the financial year ending February 2012, the business achieved an operating profit of £17.3m (up 38% on previous year) and a turnover of £162.4m (up by 34% year on year).

 

James Neville adds: “Our financial success continues to strengthen our business and gives us confidence to seek ambitious and collaborative investments and acquisitions that move our business and the wider dairy industry forward.”