The º£½ÇÊÓƵ and Ireland division of dairy behemoth Muller has bounced back into profitability following its recovery from substantial losses in 2023, it has been confirmed.
The Shropshire-based arm of the German corporation has delivered a pre-tax profit of £34.3m for 2024, according to fresh accounts lodged with Companies House, as reported by .
This marks a dramatic turnaround after Muller plunged to a pre-tax loss of £65.3m in the previous 12 months.
The company had also recorded a pre-tax loss of £6.2m in 2022.
In its previous year's accounts, Muller attributed its performance to the decision to sell its stake in Milk & More, a transaction finalised on 31 December, 2023.
In its most recent financial results, Muller revealed that revenue had climbed marginally from £2.43bn to £2.45bn.
Across the º£½ÇÊÓƵ, Muller's turnover grew from £2.38bn to £2.41bn, though it declined from £52.8m to £44.4m in Europe and dropped from £880,000 to £507,000 in the rest of the world.
Throughout 2024, its workforce expanded from 5,930 to 6,100.
Muller hails growth across its major divisions
A statement endorsed by the board declared: "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."
