FDBusiness.com

Dairy nutrition company Volac has published its results for the financial year ending February 2014. During this period, turnover increased 38% from £143 million to £197 million. The company invested in systems and strategic projects that will position Volac for future growth, which contributed to a profit before tax decline of 21% to £18.3 million.

Gross profit was 21%, slightly down on the 23% in FY 2012/13 mainly due to reduction in market prices for lactose

James Neville, Volac Chief Executive, summarises:  “Our strong sales growth this year reinforces our belief in the long-term future of the dairy nutrition markets we are involved in. Our commitment includes launching our first consumer brand, Upbeat, a high protein dairy drink, which has gained a strong foothold of distribution and consumer traction in the UK. We also made significant capital investments in our Animal Nutrition business to support our silage inoculants following our 2012 purchase of Ecosyl. We recognise it is important to invest even during volatile market conditions such as those we are facing today. We are committed to continuing our investment programme to get closer to consumers, provide customers with the market-leading products they have come to expect from Volac, and make our operations ever-more efficient.”

Looking ahead, Volca foresees a strong demand for its products, which improve productivity and health in livestock and help people to lead healthier and more active lives. Demand remains particularly strong for whey protein.