Trewithen Dairy Nears £100 Million Turnover Despite Market Volatility
Source: The DairyNews
Cornish Farm Dairy Ltd, operating under the brand Trewithen Dairy and supplying major retailers like Tesco, has nearly reached a £100 million turnover despite challenges posed by significant inflation and market volatility in the dairy sector.
Established in 1994, Trewithen Dairy is renowned for its range of products including milk, clotted cream, pouring cream, yoghurt, butter, and cheese. In the fiscal year ending on April 30, 2023, the company achieved a turnover of £95.9 million, marking a notable increase from £66.3 million in 2022. This growth was attributed partially to price inflation while the company continued to expand both its branded and private label sales, processing over 120 million liters of dairy products during the year.
Despite facing challenges, the dairy managed to reduce its pre-tax losses to £1.4 million from £3.7 million. This improvement was largely due to addressing a non-recurring debt write-off of £2 million stemming from the closure of an associated business, Food & Dairy Ltd.
Directors emphasized in their strategic report their satisfaction with the strong growth of the core business throughout the year, leading to a return to profitable trading. Looking ahead, they expressed optimism about the current financial year, stating that the company is trading strongly and forecasting a profitable performance for the full year.
Despite facing challenges, the dairy managed to reduce its pre-tax losses to £1.4 million from £3.7 million. This improvement was largely due to addressing a non-recurring debt write-off of £2 million stemming from the closure of an associated business, Food & Dairy Ltd.
Directors emphasized in their strategic report their satisfaction with the strong growth of the core business throughout the year, leading to a return to profitable trading. Looking ahead, they expressed optimism about the current financial year, stating that the company is trading strongly and forecasting a profitable performance for the full year.
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