Robert Wiseman expects in line figures

LONDON (ShareCast) - Dairy group Robert Wiseman expects to deliver results in line with expectations for the year as it passes on rising oil and packaging costs to customers.

Sales volumes in the first three months of the year are around 2% ahead of the same period last year.
The group said fuel, electricity and gas prices have continued to rise, which it will recover by passing on costs to customers though price increases. "Whilst costs have continued to increase in recent months, we remain confident that given the improving cream revenues and anticipated cost recovery from customers, we will deliver results for the year in line with expectations," it said.

The group said some recovery in bulk cream prices has taken place in May and June and added that the sale of its "the One" milk and Extended Shelf Life milk continues to make progress.

"I can say that the last few months have been amongst the most difficult we have ever faced as a business. However, we are confident that with a robust balance sheet, the most modern and efficient network of dairies and distribution centres in the UK, and the support of our customers, we can rebuild margins back to acceptable levels," said chairman Alan Wiseman.

Source:http://uk.biz.yahoo.com/080703/214/i2pk2.html