Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

National Milk Records boosted by dairy price recovery

Increased sales and cash generation coupled with drops in net debt solidify rebound for dairy science company
Dairy Cows
Managing Director Andy Warne plans to keep servicing core milk recording customers while increasing testing for dairy cattle health and provenance

A more stable milk market and exit from the industry pension fund sparked a strong profit rebound at National Milk Records PLC (LON:NMRP).

NMR provides a range of services for dairy herd farmers and profits in the half year to December more than doubled to £957,000 as conditions eased for the sector.

WATCH: National Milk Records both 'poacher and gamekeeper' in the dairy sector

Andy Warne, managing director said the comparative year had been exceptionally tough, but it was a strong interim performance nonetheless. Sales rose 11% to £10.5mln while underlying profits were 40% ahead at £1.19mln.

Cash generation from operations was £1.1mln, while net debt dropped to £3.3mln.

“This is the first set of results following our exit from the Milk Pension Fund in June 2017,” said Warne. NMR paid the Milk Pension Fund £10.1mln last year for its exit and £4.7mln to Genus PLC, which is liable for the fund.

Warne said the plan was to keep servicing core milk recording customers while increasing testing for dairy cattle health and provenance. Short-term that will mean tests for Johne’s disease and BVD and more longer-term projects such as heat detection, genomics and anti-microbial resistance.

“We recognise that milk prices are beginning to reduce as we enter 2018, but, despite this, we are well positioned to carry our performance into the second half of the financial year,” he added.

NMR is listed on the NEX exchange.

View full NMRP profile View Profile

National Milk Records Timeline

Related Articles

1511808112_surgeon.jpg
January 08 2018
The device can now be sold to aid in heart treatment throughout the European Union
Frosties Box
December 04 2017
The company is a pioneer in the human microbiome, which is essentially the bacteria that inhabits the gut and skin
1511901712_biotech_517925923.jpg
November 29 2017
The company has developed a "unique and superior pressure" cycling technology (PCT), says Zacks.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use