News: UK Company Reports 2018

EMMI UK

Putney, west London-based Emmi UK, subsidiary of the rapidly expanding Swiss dairy company Emmi—boosted substantially by the acqisition of German yogurt brand Onken from Dr Oetker in 2011 for £30m—and mainly importers of European dairy products into the UK, have reported sales up marginally to £54.7m for calendar year 2018. Operating profits were slashed again from £1.3m to £380,000 and pre-tax profits of £560,000 were reversed into losses of £215,000, due almost entirely to loans of £595,000 from group undertakings. Staff numbers were up from 26 to 30; Emmi UK are still run by the very experienced Julie Plant. Net assets were down 2% at £8.8m.

EURILAIT

Shepton Mallet, Somerset-based Eurilait, a subsidiary of Brittany-based French co-ops Eurial and Laïta—who mainly import French cheeses into the UK—have reported sales down 2% to £67.7m for calendar year 2018, with operating profits up 3.5% at £766,000 and pre-tax profits up 3.8% at £676,000. Dividends paid to their French parent were unchanged at £500,000. Net debt was down 46% at £2.1m. Staff numbers were down from 96 to 85.