South Caernarfon Creameries is Wales’ leading farmer owned dairy co-operative
South Caernarfon Creameries have reported a record profitable year for the period to March 2017. An operative profit of nearly £3 million (9%) on sales of £33.1 million was achieved compared to a profit of £389k (1.2%) on sales of £31.7 million in 2016.
The key drivers for the much improved financial performance were the
improvement in dairy commodity markets in the second half of the year,
the delivery of two major capital projects and the outcome of a quality
Alan Wyn Jones, Managing Director commented “The results for the
period is very pleasing and is a reflection of the progress the
co-operative has made across all of its activities in recent years.
Having delivered two major capital projects in the last two years, the
focus now is very much in ensuring that our improved performance is
sustained in the longer term for the benefit of all of our farmer owners
and staff. We have a very clear strategy for further growth, this
involves growing our Welsh milk field, this can only further support
Welsh agriculture and the local economy”.
The company employs circa 130 local full-time staff having increased
its workforce by 30 during the year. The co-operatives Board of
Directors are to propose a script dividend to its 127 farmer Members
which is equivalent to 0.5ppl of their annual milk production; this will
result in the average Member receiving £3,750 in additional shares.