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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Robert Wiseman | LSE:RWD | London | Ordinary Share | GB0007442014 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 389.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0911N Robert Wiseman Dairies PLC 03 July 2003 3 July 2003 ROBERT WISEMAN DAIRIES PLC ANNUAL GENERAL MEETING Chairman, Alan Wiseman, will make the following comments about trading when he addresses shareholders later this morning at the Robert Wiseman Dairies PLC 2003 Annual General Meeting: "We are pleased to report that sales volumes in the first three months of the new financial year are in line with expectations and are 11% ahead of last year's first quarter. We can also confirm that contract wins in the first quarter represent over 100 million litres per annum, making this quarter the most successful in terms of new business gains in the Company's history. In addition to the new business started in April with Tesco and Sainsbury's, we recently commenced deliveries to an additional 66 Somerfield/Kwiksave stores, helping the efficiencies of our Bristol and Droitwich depots. We have also been successful in gaining an additional 42 Iceland/Booker outlets, which will commence deliveries later in the year. Our potted cream business has also been boosted by gaining the supply to an additional Tesco regional depot, which will commence in October, bringing our share of their pot cream business more into line with our share of their fresh milk business. We have continued to hold our price paid to milk suppliers despite reductions during the last couple of months by two of our major competitors. We believe it was fundamentally wrong to cut prices when all market signals such as IMPE point to justifying higher milk values. We believe that milk prices will improve over the next few months, but have made it clear to our suppliers that we will have to, in due course, realign our milk price closer to that of our major competitors. Returns from sales of bulk cream have continued to improve steadily since the start of the new financial year in line with the weakening Sterling v Euro exchange rate. Our Droitwich Spa dairy continues to steadily increase production levels and this has resulted in further improvements in the operating and cost performance of this "state-of-the- art" plant. Production at this facility is currently running at the equivalent of 350 million litres per annum, justifying the Board's confidence in expanding its capacity, at a cost of #7.2 million, to 500 million litres per annum with effect from October 2003. It is with great regret that the Company today loses the services of our Senior Non-Executive Director, Norman Lessels, and the Board would like me to convey publicly our sincere appreciation of the contribution Norman has made to the success of the Group since joining the Board in early 1994. We wish him a very enjoyable retirement." ENDS For further information please contact: Weber Shandwick Square Mile Kirsty Hall / Peter Corbin Tel: 020 7067 0700 Hatch Group Graeme Jack Tel: 0141 333 6440 This information is provided by RNS The company news service from the London Stock Exchange END AGMSSEFMESDSEDW
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