Crediton Dairy's Financial Triumph Amidst Industry Challenges

Crediton Dairy, located in Crediton, Devon, and with a commercial office in Bristol, has reported an impressive financial performance despite facing a 'challenging and rapidly changing' year in the dairy industry. The manufacturer, known for products like Arctic Coffee and Pro Mlk, has increased its turnover to £131.3m from £111.3m in the previous year. This rise in turnover is attributed to the growing sales of extended shelf life products and increased cream prices. Additionally, the business achieved a profit of £10.4m compared to £9m in 2023.

Crediton Dairy boasts a processing capacity of 200 million litres, a workforce of 220 staff, and significant shares in the long life milk and iced coffee markets, standing at 26% and 27% respectively. Managing director Tim Smiddy highlights the company's ongoing capital investment, which totaled £5.7m during the year for facility upgrades, aiming to enhance pasteurisation, processing, and filling capacities.

Since the Management Buy Out in 2013, the company has invested £41.7m into its development and continues to bolster its processing capabilities and wastewater treatment facilities. Smiddy stated, "In the light of increasing demand for our own label flavoured and functional milks and branded dairy drinks supplied to UK retailers, the company is continuing to invest in new capacity and capability, site services and new product development." As a leading independent UK dairy drinks producer, Crediton Dairy remains optimistic about its future and its role in the broader dairy sector.