Müller UK & Ireland more than doubled its profit in 2025, despite describing the dairy market as challenging and acknowledging that the sector experienced a significant milk surplus.
Accounts filed at Companies House show the processor made a profit before division among members of £70.7m in the year to December 31, 2025, compared with £34.3m in 2024.
Revenue rose 8.4% to £2.664bn, while operating profit increased by 87% to £74m, from £39.6m a year earlier.
The accounts have emerged during a period of pressure on dairy-farm margins, after milk prices fell through much of 2026 and production costs remained a concern. Müller said it will increase its price by 0.5ppl to 35ppl for qualifying Müller Advantage suppliers from September 1, following a period of fluctuating farmgate prices across the market.
In its annual report, Müller said its Müller Milk & Ingredients division delivered a “resilient performance” in 2025 against a challenging market backdrop, with the UK dairy sector experiencing a “significant milk surplus”.
The company said retail liquid-milk sales were broadly stable, while value-added categories including packet butter had grown. It also highlighted investment in manufacturing and supply-chain capacity, progress in integrating Yew Tree Dairy, and approved further investment at Skelmersdale to strengthen its milk-balancing capability.
Müller’s accounts do not disclose its average farmgate milk price, total raw-milk purchasing costs or a separate operating-profit figure for Müller Milk & Ingredients. It is therefore not possible from the filings alone to establish how far milk-procurement costs contributed to the improved group result.
However, processing and distributing milk and associated products generated £2.232bn of the group’s £2.664bn turnover, underlining the importance of the milk business to overall performance.
The company’s yoghurt and desserts business recorded its highest-ever revenue in 2025, although Müller said operating profit and margins in that division were lower than the previous year because of inflationary pressures, including extended producer responsibility costs and higher employer National Insurance contributions. The accounts also record Müller’s acquisition of Bio-tiful Dairy in 2025 as it expanded into the kefir and gut-health category.
As an LLP, Müller records profit as divided among its members. The accounts list £20.3m of 2025 profit for Robert Wiseman & Sons Ltd, £13.2m for TM UK Production Ltd and £37.2m for Müller Dairy UK Ltd, figures which total £70.7m.
The statutory accounts record £78.3m of additions to property, plant and equipment during 2025, with a further £40.9m of contracted capital commitments at year-end.
For dairy farmers, the figures are likely to sharpen the question of how improved processor performance is reflected in farmgate prices and contract returns. The statutory accounts alone, however, do not allow a conclusion about the extent to which raw-milk prices contributed to the profit increase.
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