5th May 2005 07:00
Robert Wiseman Dairies PLC05 May 2005 5 May 2005 ROBERT WISEMAN DAIRIES PLC / WM MORRISON SUPERMARKETS PLC Robert Wiseman Dairies PLC ("Wiseman") has been informed by the supermarket group Wm Morrison Supermarkets PLC ("Morrison") that, following a decision to rationalise its number of milk suppliers, Wiseman is being given notice that its supply contract with Morrison is not to be renewed. Wiseman will continue to service Morrison until October 2005. This contract was worth approximately £50m in turnover for the year ended 2nd April 2005. Given the disposal of stores made by Morrison in the last year the contract is currently worth approximately £40 million per annum in turnover. As a result of changes in milk supply announced by multiple retailers in thelast twelve months the net position in terms of volumes sold by Wiseman isexpected to be broadly neutral. Robert Wiseman, Managing Director, commented: 'We are disappointed with the loss of this customer, which accounts for around 9% of our current volumes. This loss is expected to affect the business from October and we will take mitigating actions to minimise the impact. We remain focused on long term, profitable growth.' ENDS For further information please contact:Robert Wiseman Dairies PLCBilly Keane, Group Finance Director 01355 244 261Weber Shandwick Square MileNick Oborne 020 7067 0700Trimedia UKGraeme Jack 0141 333 6440 / 07900 430 269 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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