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South Caernarfon Creameries annual accounts return to profitability


South Caernarfon Creameries Limited has announced its financial results for the year ended 3rd April 2010.

An operating profit of 279,000 reverses and operating loss of 786,000 in the previous year, while profit before distributions stands at 72,000 compared to a loss of 990,000 in 2009. Sales were down 1.25% to 39.7m from 40.1m while bank borrowings were reduced by 1.6m, from 4.7m to 3.1m.

In common with many in the dairy and cheese industry, we had an exceptionally difficult trading period well into 2009 and we had to make some difficult decisions for the long term good of the business. We have already increased our returns to our members twice in the last few months and our main focus for the coming year is to return our milk price back to being into a competitive position, along with the management of cash and the delivery of our key strategic objectives. Alan Jones, Chief Executive.

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