Muller recovers from huge loss to make profit return
The UK and Ireland arm of dairy giant Muller has returned to profit after recovering from a huge loss in 2023, it has been confirmed.
The Shropshire-headquartered division of the German group has posted a pre-tax profit of £34.3m for 2024, new accounts filed with Companies House show.
That comes after Muller fell to a pre-tax loss of £65.3m in the prior 12 months.
The business also made a pre-tax loss of £6.2m in 2022.
In its prior year accounts, Muller said its performance was impacted by its decision to divest its interest in Milk & More, a move which was completed on 31 December, 2023.
In its latest set of financial results, Muller confirmed its revenue had edged up slightly from £2.43bn to £2.45bn.
In the UK, Muller’s turnover increased from £2.38bn to £2.41bn but fell from £52.8m to £44.4m in Europe and from £880,000 to £507,000 in the rest of the world.
Over the course of 2024, its headcount rose from 5,930 to 6,100.
Muller hails growth across its major divisions
A statement signed off by the board said: “Business performance within Muller Yogurts and Desserts was strong in 2024 with revenue, operating profit and margin all in growth vs prior year.
“Volumes were also up vs the prior year following the successful performance of Muller Corner Originals.
“The business continued to invest into both marketing and capital expenditure to fuel future growth, most notably with the launch of a brand new Muller x Myprotein delivering a range of quality high protein yogurts, drinks and desserts and giving Muller a significant opportunity for future growth within this fast-growing category.”
The company added: “2024 saw solid performance for Muller Milk and Ingredients, with volumes increasing year on year due to contract gains.
“furthermore, contracts were renewed with a number of key customers, supporting the sustainability of the MMI business.”