Dairy giant Muller loses over £65m after Milk & More sale
The UK and Ireland arm of dairy giant Muller slumped to a huge loss despite its sales rising by more than £100m, it has been revealed.
The Shropshire-headquartered division of the German group fell to a pre-tax loss of £65.3m for 2023, delayed accounts show.
The loss comes after the business also made a pre-tax loss of £6.2m in 2022.
However, the results also show that Muller’s turnover increased from £2.33bn to £2.43bn over the same period.
The accounts were filed with Companies House on Christmas Eve, after the deadline of 30 September.
Muller’s results for its latest financial year are now due to be submitted by the end of September 2025.
Muller ‘positive’ for the future
In the accounts, the division said its performance was impacted by its decision to divest its interest in Milk & More, a move which was completed on 31 December, 2023.
It added: “The overall loss for the year before division among members in 2023 is therefore not representative of the positive performance of both Muller Milk & Ingredients and Muller Yogurt & Desserts [MYD].
“Once the one-off loss on sale of investment and impairment loss on investment have been removed, the partnership made a net profit in 2023.”
Muller also said: “Muller UK & Ireland Group is now well set up to deliver further profitable growth.
“A well invested and enhanced network, coupled with a balanced business comprising a wide portfolio of products across categories and markets enables a positive future.
“The business has healthy relationships with its supplying farmers and those elected to represent them, and has strong long-term strategic partnerships with retail partners that are characterised by service, quality, resilience and a robust sustainability action plan.”