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 cost base, quality and service make it confident that the group can deliver profits this year in line with expectations and provide a sound base going forward.
Dairy Crest will issue its half-year trading update on 30th September 2010.
Some analysts have pointed the finger at Asda, one of the UK’s ‘big four’ retailers, for starting a price war on liquid milk and so undermining the category’s profitability.
