Volac Results 2010/11

28 November 2011

Dairy nutrition company, Volac, has announced positive progress in its performance, against a backdrop of continued investment in its business and commitment to its partners.

The company, who published their annual results today [28 November 2011], is one of the few UK dairy nutrition companies to be simultaneously growing and investing across Europe, stimulating demand for nutritionally valuable dairy products and adding value in the supply chain.

James Neville, Managing Director of Volac, says: “We have had a very positive year and our passion for nutrition and our deep involvement in the industry remain exceptionally important to us. We work hard to form genuine, long-lasting partnerships with our customers, suppliers and stakeholders in the dairy industry and this is very much our driving force.”

In the last three financial years, 2008-2011, Volac cites its main achievements and investments, which amount to over £20m, as follows:

         -       £8m investment in a lactose plant and increased milk replacer capacity at Felinfach, Wales

-      £7m investment in a Milk Link Volac Ingredients (MVI) joint venture at the Taw Valley Creamery

-       £2.5m upgrade and expansion of a whey protein isolate site at Felinfach

-        Acquisition of Volac Agro-Best s.p.o.l. sro, a distributor in the Czech Republic

-       Acquisition of Parnutt Foods, the specialist young animal nutrition business

-       An increase in staff employment of 18% over the financial year

-       Supporting the development of a sustainable dairy industry through involvement in a number of dairy industry initiatives

Sally Uren, Deputy Chief Executive of Forum for the Future, said: “Volac consistently manage to invest in all aspects of their business, thereby securing their long-term success as well as contributing to a thriving and successful dairy industry. This is a great balance to achieve, especially against the volatile economic backdrop and the need to develop sustainable food production in the future.”

In the financial year ending February 2011, the business achieved an operating profit of £12.5m against an increased turnover of £121m (up by 37.5% year on year).

James Neville adds: “The financial strength and the security of our business is the bedrock of our ongoing commitment to seeking ambitious and collaborative investments that move our business and the wider dairy industry forward.”

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