Volac: turnover up, PBT down

2 Oct 2015

Dairy nutrition company Volac has published its financial results for the 10 month period ending December 2014. This is a shorter period than reported last year due to the realignment of accounting period to calendar year. During this 10 month period, turnover increased 1% from £197m to £199m compared to the previous full financial year […]

Volac: turnover up, PBT down

whey-protein-acne-859x570Dairy nutrition company Volac has published its financial results for the 10 month period ending December 2014. This is a shorter period than reported last year due to the realignment of accounting period to calendar year. During this 10 month period, turnover increased 1% from £197m to £199m compared to the previous full financial year and profit before tax decreased 10% from £18.3m to £16.4m.

“Our sales growth in the last year reinforces our belief in the long-term future of the dairy nutrition markets we are involved in,” said James Neville, Volac Chief Executive. “Over the last year we have focused on delivering the benefits of previous investments which include silage inoculant capacity, our ERP system and our “Upbeat” consumer brand. In the 10 month reporting period we have continued to make revenue investments in our “Upbeat” brand, ERP system and in the completion of feasibility work for a Felinfach biomass green energy plant.”

“In July 2015 we established Volac Wilmar Feed Ingredients, a significant new joint venture between Volac and Wilmar International Limited, to develop an added value global animal feed fat business. The joint venture combines the nutritional reputation, global brand and sales network of Volac with the operational raw material logistics and scale of Wilmar to bring real benefits to our customers and make a significant contribution to the growth of Volac.”

In its outlook, Volac said that the dairy industry is experiencing challenging times with supply exceeding demand leading to lower prices across the supply chain. Volac noted that it has a diverse business which improves the resilience of the business but it is not immune to the current dairy market situation.