Profits up at Chippenham-based National Milk Records
National Milk Records, the Chippenham-based business providing milk recording and cow health monitoring services to farmers and the dairy industry, has posted an increase in profits of a shade over 15 per cent to £6.482 million for the quarter ending March 2023.
Revenues from core revenue streams increased by more than £650,000, an increase of 14.3 per cent, while revenue from testing for Johne's disease was £1.416 million, an increase of 21.2 per cent.
The company said revenue streams had been boosted in the quarter by higher levels of inflation in the sector and the consequent price changes implemented across NMR services in January 2023.
Mark Frankcom, finance director, commented: "I am pleased to report a marked uplift in revenue growth for the quarter.
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"The value of NMR's services up and down the supply chain is well understood by our customers, and we have been able to secure higher prices for our services on the back of higher inflation and an underlying increase in the value of milk.
"In line with our strategic priorities, we have seen revenue growth in our core services, notably core milk recording and testing for Johne's disease, up approximately 15 per cent and 21 per cent respectively, and we have also seen increases in revenues from bulk tank samples testing for processors and farmers alike.
"The combination of individual animal testing and whole-herd analysis is a particular selling point for NMR as we collect whole herd samples for every dairy herd in Britain every day, which enables surveillance and management of animal health, production, and sustainability. A healthy cow is an efficient, sustainable producer of dairy protein.
"It's also good to see another quarter of significant growth in genomics testing. We are convinced that the benefits of genomics testing, particularly when coupled with our exclusive GenoCells service, will see a rapid penetration of the UK market.
"GenoCells provides farmers with a genomically driven individual animal cell count analysis, based purely on the sample of milk from their bulk tank. This allows them to manage mastitis in the herd, and its associated use of antibiotics, without the need for individual animal sampling.
"We are pleased with the progress of our launch planning for GenoCells and are looking forward to its official launch in the autumn, initially in our core domestic market and soon after in the United States."
