Wiseman warns of profits hit

Robert Wiseman Dairies today said rising costs and delays in implementing price hikes will result in a major hit to profits this year.

With the Glasgow-based group also impacted by the falling value of bulk cream on commodity markets, Wiseman said it expected operating profits in the current financial year to be impacted by up to £8.5m (€10.8m).

The warning from chairman Alan Wiseman came as the company announced operating profits of £38.4m (€48.6m) in the year to March 31, an increase of 10.1% on a year earlier.