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Tag "Dairy Crest"

Milk Price to Increase from Dairy Crest

Dairy Crest will release a 1ppl raise its milk price from 1 September 2016, meaning that the Davidstow core milk price will be 22.72ppl.

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Catastrophic Cuts Threaten UK Dairy Industry

    Catastrophic Cuts Threaten UK Dairy Industry

The NFU (National Farmers Union) has strongly condemned the latest round of milk price cuts after three major dairy processors, who supply fresh liquid milk into the UK market place, issued notices for reductions. Robert Wiseman Dairies, Arla Foods UK and Dairy Crest have announced cuts to their milk prices paid to farmers of 1.7ppl, […]

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Dairy Crest to Sell St Hubert For €430 Million

    Dairy Crest to Sell St Hubert For €430 Million

Dairy Crest, the UK’s leading dairy foods company, has received a binding offer from Montagu Private Equity to acquire St Hubert, the French branded spreads business, for a cash consideration of Eur430 million (£3441 million).
The transaction follows Dairy Crest’s announcement in March 2012 of a strategic review of St Hubert. During the review a range […]

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Dairies Business Behind Loss at Dairy Crest

    Dairies Business Behind Loss at Dairy Crest

Although revenue increased, due to strong growth in its Foods business, and group operating profits levels were maintained, UK dairy group Dairy Crest has reported a pre-tax loss of £10.1 million for the year ended 31 March 2012. Dairy Crest’s revenue rose by 2% to £1.63 billion during the year, with its Foods business growing […]

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Dairy Crest to Close Two Liquid Milk Dairies

    Dairy Crest to Close Two Liquid Milk Dairies

Dairy Crest is proposing to close two dairies as part of its long term plan to reduce costs and sustain profitability at its liquid milk business. Dairy Crest is entering into consultation with employees and their representatives on proposals to close two of the dairies at Aintree, Liverpool and Fenstanton, Cambridgeshire later this year. The […]

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Retail Squeeze Intensifies on UK Food and Drink Manufacturers

    Retail Squeeze Intensifies on UK Food and Drink Manufacturers

Within British manufacturing, particular pressure is being felt by companies that supply the embattled UK retail sector. Some of the worst affected companies are food, non-alcoholic beverages and clothing manufacturers, finds new research from Company Watch. Company Watch, the financial health monitoring specialists, analysed the published financial accounts of the largest 681 UK food, non-alcoholic […]

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Cost Reduction Programme on Track at Dairy Crest

    Cost Reduction Programme on Track at Dairy Crest

Dairy Crest’s cost reduction programme is on track to deliver annual savings in line with the £20 million target set at the start of its financial year year. These savings have partially offset higher input costs including milk at the UK dairy group. Dairy Crest will continue to focus on reducing costs into the new […]

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Dairy Crest to Review its French Branded Spreads Business

    Dairy Crest to Review its French Branded Spreads Business

Dairy Crest, the UK’s leading dairy foods company, is to commence a strategic review of St Hubert, its French branded spreads business. The review will evaluate all possible options available to Dairy Crest to maximise shareholder value, including a potential divestment of St Hubert.
Since its acquisition in January 2007, St Hubert has been a successful […]

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Dairy Crest Left Chasing £4 Million Debt

    Dairy Crest Left Chasing £4 Million Debt

Dairy Crest is increasing its bad debt provision by up to £4 million after a customer, Quadro Foods, called in administrators. According to the UK dairy group, this is the total debt owed to it by Quadra although Dairy Crest is looking at several options to reduce the amount involved.
Dairy Crest expects to treat any […]

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Dairy Crest Completes Debt Refinancing

    Dairy Crest Completes Debt Refinancing

Dairy Crest has successfully completed a debt refinancing by arranging a new bank facility that will mature in October 2016 and by raising additional debt private placement. In total, including existing debt private placement, theUKdairy group’s facilities will remain broadly unchanged at over £600 million.
 
A new five-year revolving credit facility of £170 million plus €150 […]

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Dairy Crest Meeting Expectations

    Dairy Crest Meeting Expectations

Operational efficiencies and selling price increases have allowed Dairy Crest to broadly offset higher input costs during its first half trading period ending September 30th 2011. Trading has been in line with expectations and higher property profits will result in overall profits for the first half being slightly ahead of the same period last year.
 
The […]

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OFT Fines UK Supermarkets and Dairy Processors £50 Million

    OFT Fines UK Supermarkets and Dairy Processors £50 Million

The UK Office of Fair Trading is imposing fines totalling £49.51 million on four supermarkets and five dairy processors, following its dairy products retail pricing investigation. The OFT found that Arla Foods UK, Asda, Dairy Crest, McLelland, Safeway, Sainsbury, Tesco, The Cheese Company and Robert Wiseman Dairies infringed the Competition Act 1998 by co-ordinating increases […]

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Dairy Crest Strengthens Spreads Business

    Dairy Crest Strengthens Spreads Business

UK dairy group Dairy Crest has strengthened its spreads business with the £13m acquisition of MH Foods, which manufactures healthy ‘one calorie’ spray cooking oils and salad dressings. “It has a good history of innovation over many years, the leading brand in its sector and fits well with our Spreads business and we believe the […]

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Dairy Crest Eyes Yoghurt Market

    Dairy Crest Eyes Yoghurt Market

UK dairy group Dairy Crest is reported to planning to move into the £1.2b yoghurt market either through developing its own business or by acquisition. Dairy Crest had been a key player within the UK yoghurt market through a joint venture with French dairy group Yoplait before selling its stake in 2009. A condition of […]

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Dairy Crest Well Placed to Face Challenges Ahead

    Dairy Crest Well Placed to Face Challenges Ahead

Although turnover slipped by 2% to £1.61b for year ended March 31st 2011, Dairy Crest managed to increase adjusted profit before tax by 5% to £87.6m in challenging trading conditions. Profit before tax remained static at £77.8m.
In line with its development strategy, the UK dairy group again increased added value sales and its five key […]

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UK Food and Grocery Industry Recovers 115,000 Tonnes of Waste

    UK Food and Grocery Industry Recovers 115,000 Tonnes of Waste

Participants in a scheme run by ECR (Efficient Consumer Response) UK are well on the way to achieving targets set last autumn to prevent and recover waste in the FMCG supply chain in the UK. By thinking differently about waste when looking at products, packaging design, range and forecasting, consumer goods manufacturers and retailers have […]

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Dairy Crest to Embark on Further £20 Million Cost Reduction Programme

    Dairy Crest to Embark on Further £20 Million Cost Reduction Programme

Dairy Crest is planning a further £20m cost reduction programme for its next financial year to help offset increasing input costs. The UK dairy group’s cost reduction programme in its last financial year ended March 31st 2011 delivered annual savings ahead of the £20 million target set at the start of the year.
Input costs have […]

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Robert Wiseman Dairies Wins Milk Supply Contract

    Robert Wiseman Dairies Wins Milk Supply Contract

UK liquid milk specialist Robert Wiseman Dairies has won a new two-year contract to supply The Co-operative, the UK’s fifth biggest food retailer. Robert Wiseman Dairies currently supplies around 75% of The Co-operative’s own-brand conventional milk, with the remaining 25% supplied by Dairy Crest. Under the terms of the new dedicated supply agreement, from August […]

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UK Industry Responds as One in Three Shoppers Want Waste Reduction Prioritised

    UK Industry Responds as One in Three Shoppers Want Waste Reduction Prioritised

Nearly a third of UK shoppers want food and grocery retailers and manufacturers to focus on reducing waste. IGD consumer research shows 29% of shoppers think reducing waste should be one of the main sustainability priorities for the industry.
The findings come as 33 leading food and grocery companies have announced they are voluntarily committing to […]

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Solid First Half by Dairy Crest

    Solid First Half by Dairy Crest

Dairy Crest has performed solidly during the first six months of the year, benefiting from being a broadly based dairy business with strong brands. Adjusted profit before tax (before exceptional items, amortisation of acquired intangibles and pension interest) was up 5% to £40.1m on the comparable period in the previous year. Reported profit before tax […]

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Cutting Energy and Carbon Usage in the UK Food Industry

    Cutting Energy and Carbon Usage in the UK Food Industry

Baking bread in lighter tins, cleaning pipes with ice instead of hot water, and using microwaves to dry fruit gums and jellies: these are just some of the ideas being explored by the Carbon Trust and food industry leaders to cut energy use and carbon emissions at UK manufacturing sites.
Over the last year, the Carbon […]

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Muller Increases Stake in Dairy Crest

    Muller Increases Stake in Dairy Crest

Theo Muller, the privately owned German-based dairy group which is also the leader in the UK yoghurt market, has increased its stake in British dairy group Dairy Crest to 3.04%. The move has sparked speculation that Dairy Crest may become a bid target. Dairy Crest would carry a price tag of about £1b, according to […]

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Dairy Crest Extends Milk Contract With Morrisons

UK dairy group Dairy Crest has renewed its fresh liquid milk contract with retailer Morrisons through to 2015. “We are delighted to have been awarded this extension to our contract with Morrisons,” says Toby Brinsmead, managing director of Dairy Crest’s liquid products business. “We believe our clear focus on quality, service and cost puts us […]

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Dairy Crest Reassures Investors

  Dairy Crest Reassures Investors

UK dairy group Dairy Crest has moved to reassure investors following rival Robert Wiseman Dairies’ shock profits warning due to recent intense competitive pressures within the liquid milk market.
Whilst agreeing that the liquid milk market is currently very competitive, Dairy Crest has stated that its broad customer and product base and clear improvements in its […]

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UK Food and Drink Processors Make First Step Towards 2020 Water Target

  UK Food and Drink Processors Make First Step Towards 2020 Water Target

Almost 500,000 cubic metres of water have already been saved as 36 of the UK’s leading food and drink manufacturers report their first full year progress on the voluntary Federation House Commitment (FHC) on water efficiency. This marks the sector’s first step towards achieving a 20% reduction in water use by 2020 compared to 2007, […]

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Solid Start to the Year by Dairy Crest

  Solid Start to the Year by Dairy Crest

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 […]

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£320 Million Capital Investment by UK Dairy Processors

Although 2009 was a tough year for UK dairy processors, the market fundamentals remain sound and reflecting this confidence in the long-term outlook, capital investment projects worth over £320 million are currently ongoing or just recently completed within the industry.
Encompassing liquid milk, cheese, yoghurts and chilled desserts, yellow fats (butter, spreads and margarine) and cream, […]

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