Trading On Track At Dairy Crest

Ahead of its AGM today, Dairy Crest issued a trading update covering the 3 months to 30 June which stressed that its performance has been in line with its expectations.

The group said that combined sales volumes of its four key brands (Cathedral City, Clover, Country Life and Frylight) were in line with the same period last year and that the outlook for the full year remained unchanged.

Mark Allen, Chief Executive, commented: “The year has started off as we expected. Our branded business continues to perform well. In cheese, we have successfully re-launched Cathedral City, the nation’s favourite cheese, with new packaging and branding. This has been supported with a wide-reaching media and promotional campaign.

“Our butters, spreads and oils business is progressing well. Clover and Country Life have both built on the momentum from the second half of last year. Frylight sales are also growing strongly.

“At the same time, we are seeing the benefits of our investment in infant formula ingredients with improved operational efficiencies at our demineralised whey and GOS production facilities. We are successfully building the customer base for both products in partnership with Fonterra.”