UPDATE 3-Robert Wiseman Dairies H1 profit rises, ups dividend

* Says confident of FY results * Declares interim div of 5.75p vs 5.0p last yr * Says well placed to grow volumes, improve oper margins

* Invests 25 mln stg in Bridgwater dairy, Amesbury depot

* Shares rise as much as 1.5 percent (Recasts; adds details on net debt, updates share price)

By Tresa Sherin Morera

BANGALORE, Nov 16 (Reuters) - Scottish dairy group Robert Wiseman Dairies RWD.L posted an 81.5 percent rise in first-half pretax profit, aided by volume gains after rival Dairy Farmers of Britain (DFOB), a milk cooperative, was placed into receivership.

Robert Wiseman Dairies said it remained confident about its results for the year and raised its interim dividend by 15 percent to 5.75 pence.

"We've seen a period in which about 150 million litres per annum equivalent volume of milk moved across to us and that's largely because of the demise of the DFOB," company spokesman Graeme Jack told Reuters.

Dairy Farmers of Britain (DFOB), which supplied about 10 percent of UK milk output, was put into receivership in June. [ID:nL813531]

"The group benefited from the collapse of DFOB to gain new customers. This also helped offset some volume loss with Tesco," said Numis analyst Nicolas Ceron, who has an "add" rating on the stock.

Tesco (TSCO.L), Britain's largest supermarket group, had cut the share of its own-label fresh liquid milk range provided by Robert Wiseman with effect from May. [ID:nLB168520]

For the six months ended Oct. 3, Robert Wiseman Dairies, which is engaged in the processing and distribution of milk and associated products across the UK, said on Monday its pretax profit rose to 21.0 million pounds ($35.1 million) from 11.6 million pounds last year.

Revenue grew 7 percent to 423.9 million pounds as volumes were up 11.3 percent at 851.3 million litres.

INVESTMENTS TO BOOST GROWTH

The company said it was well placed to continue the growth in volumes and improve operating margins in the medium-term with the completion of its investments at Bridgwater dairy and Amesbury depot.

The company said it started deliveries from its new depot at Amesbury in Wiltshire and that it was in line with the budget of 14.0 million pounds.

"Milk for Amesbury will come from our Bridgwater dairy, which is increasing its volume from 250 million litres per annum to 375 million litres per annum in December," spokesman Jack said.

The combined investment in these two developments is 25 million pounds, he said.

Robert Wiseman Dairies said its net debt stood at 26.7 million pounds, down from 50.2 million pounds in September last year.

"Strong cash flows are bringing net debt down quickly, even with ongoing capex plans, and we expect a healthier dividend payout for FY10," analyst Nicola Mallard of Investec said in a note to clients.

The company's shares, which rose as much as 1.5 percent, pared early gains to trade down 1.8 percent at 474 pence at 1420 GMT on the London Stock Exchange.

($1=.5986 Pound) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Aradhana Aravindan and Anil D'Silva)