overseen by Managing Director Nigel Lloyd and predecessor in the role, his father John
A Caerphilly-based butter company has reported growth in turnover and profit following an upgrade to its factory.
According to the most recent set of accounts for Castle Dairies Ltd, turnover grew to £22.6 million in the year ending October 31, 2016, up from £18m in 2015.
Pre-tax profit also increased to £564,480 from £378,507 the year before.
A report accompanying the results filed at Companies House, said: “The directors regard 2016 results as satisfactory with significant de?ation within the dairy cabinet and milk prices.”
Director Craig Jaynes said: “As a board of directors we are pleased that with the support of our committed staff and strong relationships with our customers, we’ve managed to strengthen our financial position as detailed in our latest trading figures.
“This has taken place on the backdrop of yet another very turbulent and challenging year in the dairy market.
“From this position, we can continue to develop our core aims of meeting our customer requirements, whilst investing in new capabilities to further our product offering via our capital investment projects.”
The company celebrated its 50th anniversary last year and was originally set up as a milk bottling dairy and cheese maker.
In 1986 the business was acquired by John Lloyd, who originally joined the company as a delivery driver in 1968.
Mr Lloyd’s son Nigel joined the company in 1990, before taking over the Managing Director’s position on Mr Lloyd Snr’s retirement in 2000.
The business, based on the Pontygwindy Industrial Estate, now makes butter under its own brand and others, and last year launched a new product it hopes will take the sector by storm.
Spreadable straight from the fridge, Softer Butter hit the shelves of supermarkets last year.
The company is also aiming to crack the North American market with the butter, which uniquely for a British-made product, contains no vegetable oil.
The company is one of 15 Welsh firms that will visit America on a Welsh Government trade mission between September 17 and 20.
Ahead of the visit, Managing Director Nigel Lloyd said: “We welcome the support given to us by the Welsh Government to expand and start exporting our products into America.
“It is a perfect stepping stone to help us gain some experience in this area. It provides us with a wonderful opportunity to meet with key buyers and to pick-up advice along the way in order to establish solid contracts to boost confidence and sales.”
Good for them!