National Milk Records (LON:NMR), the dairy-focused gri-tech information services provider, saw revenue rise 6.1% in 2021 as revenue from their core diary information business rose alongside expansion in recently introduced offerings.
National Milk Records recorded revenues of £11.4m driving a 19% increase in EBITDA to 19.5% to £1.145m.
Through a network of milk-recorders, NMR collects and tests milk and diary for approximately 50% of the UK’s two million cows.
NMR’s core testing business was a central driver behind revenue growth, with revenues from Johne’s testing growing by 8.5% compared to the yer prior.
Genomics revenues rose by 17% while Surveillance revenues, which includes NMR’s surveillance tool for Anti-Microbial Resistance monitoring, rose 23%.
“I’m pleased to present a positive set of results for NMR which begins to demonstrate our emergence from the challenges of the Covid-19 pandemic in good health with higher revenues, higher EBITDA, increased levels of investment, no increase in net debt, and higher returns to shareholders. The increase in EBITDA is particularly encouraging as it includes the early stages of the additional investment we are making in our IT team to improve resilience and speed of delivery,” said Andy Warne, Managing Director, National Milk Records.
“In the first half of the year, we continued to invest in line with our strategic plan, focusing on our core services, and pursuing opportunities for step-change. We are enjoying the first revenues from our new genomics facility and are moving closer to the commercial launch of Genocells, a disruptive technology that will enable NMR to target sectors of UK dairy farmers that hadn’t previously adopted NMR’s traditional recording service.”