Solid Start to the Year by Dairy Crest

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Solid Start to the Year by Dairy Crest

Solid Start to the Year by Dairy Crest
July 20
11:30 2010

Dairy Crest has reported that it has started the year well and trading in the first quarter has been in line with expectations, as the UK dairy group continues to make good progress with its strategy to grow added value sales and reduce costs and borrowings.

The strategy of investing in its five key brands (Cathedral City, Country Life, Clover, Frijj and St Hubert Omega 3) is delivering growth and sales of these brands have increased by 3% compared to the same period last year. This builds on the strong growth that these brands have achieved over the last three years.

Dairy Crest has also reported continued good progress with sales of liquid milk to its major retail customers. Cost reduction projects are going to plan and the recently announced investment in the liquid milk dairies is on track to improve efficiencies and provide additional capacity.

Mark Allen, chief executive of Dairy Crest.

Dairy Crest is also maintaining good progress in managing its cashflow and expects this to deliver a meaningful reduction in year-end debt. The cash proceeds of Eur9m, resulting from the recent reduction in Dairy Crest’s stake in Wexford Creamery to 30%, have been used to repay debt.

“Dairy Crest continues to benefit from being a broadly based business. At the start of the year we set out our objective to increase profits, generate cash and further reduce our borrowings and our performance in the first quarter is in line with our expectations,” says Mark Allen, chief executive of Dairy Crest. “We remain well placed to deliver over the rest of the year.”

The group expects to issue its half-year trading update on 30th September 2010 and its interim results for the six months ending 30th September 2010 on 11th November 2010.

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here