National Milk Records plc
LSE : NMRP

June 29, 2011 02:01 ET

Purchase of new freehold site to consolidate testing facilities

                                                                                            29/06/2011
                                                                             GB0033430926/GBP/PLUS-exn
                                                   
                          National Milk Records plc ('NMR' or 'the Company')

                    Purchase of new freehold site to consolidate testing facilities

National  Milk Records plc, the PLUS-quoted leading supplier of milk services, has acquired a freehold
building in Wolverhampton with the intention of consolidating the Company's testing facilities in  the
UK, providing savings of up to GBP150,000 per year.  The cost of the purchase is GBP475,000. The purchase
is funded by a 15 year mortgage rolling every three years, providing an immediate cash flow advantage.

The  site  will be used as the Company's only laboratory in England and Wales, running 24 hours  seven
days  a  week  to  provide  milk recording and payment testing.  The laboratory  will  amalgamate  the
Company's current testing facilities in Harrogate and Wolverhampton.  Additionally, the site will also
provide a central transport depot for NMR's vehicles currently operating from a leased site in  Stone,
Staffordshire. Refurbishment work, which is anticipated to cost circa GBP325,000, is expected to begin
in August and the laboratory is expected to be fully operational in Q1 2012.

NMR  Managing Director Andy Warne said, "We are continually looking for ways to streamline our  costs,
increase  efficiency and in turn the profitability of the Company to maximise value for  shareholders.
Demand for our services is growing, particularly as concerns regarding future food shortages and  food
quality requirements increase, and the new premises, which will consolidate our UK milk recording  and
payment testing laboratories, will increase productivity across the Company's divisions further as  we
focus on taking advantage of this strong market environment going forward."

                                             * * ENDS * *

The Directors of the Company are responsible for the contents of this announcement.
                                                   
For further information on NMR, please visit www.nmr.co.uk

Chris Hughes                          National Milk Records plc              Tel: +44 (0) 1249 467 220
                                                                             
Duncan Vasey / Mark Anwyl             St Helens Capital Partners LLP         Tel: +44 (0) 20 7368 6959
                                                                             
Elisabeth Cowell                      St Brides Media & Finance Ltd          Tel: +44 (0) 20 7236 1177
                                                                             
Hugo de Salis                         St Brides Media & Finance Ltd          Tel: +44 (0) 20 7236 1177


Contact Information

  • National Milk Records plc