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Meadow Foods continues to ‘perform well’ despite dip in profits

Despite a dip in its 2020 pre-tax profits, Meadow Foods continued to ‘perform well in a challenging marketplace’.

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Meadow Foods continues to ‘perform well’ despite dip in profits

Announcing its year-end results for March 31, 2020, the dairy reported a pre-tax profit of £24.3 million on a turnover of £429m, down £1.3m from £25.6m on a turnover of £456m in 2019.

 

The company also started a £4.5m investment in its factory in Peterborough, as well as the initial stages of investment into a segregated facility for plant-based ingredients at Chester, last year.


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Commenting on the results, Mark Chantler, chief executive of Meadow Foods, said: “As a leading supplier of value added ingredients, we have focused on both investing in optimising our sites and diversifying our product range, most notably with the addition of plant-based ingredients to the portfolio.”

 

The dairy employs more than 430 people and handles in excess of 550m litres of milk from its producers each year.

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