Rising to the challenge: First Milk in its Annual Report to March 31 2020 reports increased turnover and profit DELIVERING: Dairy giant First Milk ONE of the key players in the Cumbrian dairy industry, First Milk, has delivered strong financial results for the year ending March 31 2020. The dairy giant in its Annual Report and Accounts show that the co-operative continues to deliver progress across the key financial areas of turnover and profit, while also increasing capital investment and member returns. Key highlights include: Group turnover up six percent to £299.5m (2020: £282.8m); Operating profit up 8% to £8.1m (2020: £7.5m); Net profit up 24 percent to £5.6m (2020: £4.5m); Capital investment of £7.8m in the year (2020: £5.3m); Net bank borrowings stable at £33m (2020: £33.1m); Member Premium increased to 0.5ppl (2020: 0.25ppl); Announced commitment to Net Zero 2040 and launched a leading regenerative agriculture programme; 93 percent of members signed First4Milk Pledge