© Dairy Crest
Dairy Crest has posted revenue of £220m for its fiscal half year 2017/18 results, an increase of 16% from the same period last year, as the company experiences “encouraging first half.”
The cheesemaker also announced that Cathedral City saw volume growth of 10% with sales of £268m, while Clover saw volume growth of 2% and Frylight’s volume growth increasing by 10%.
Dairy Crest chief executive Mark Allen said: “Cathedral City, Clover and Frylight delivered good growth in both volumes and value. Cathedral City, the nation’s favourite cheese, continues to go from strength to strength and has produced exceptional growth over the period.
“We have delivered good profit growth despite a record high cream price, which has a temporary but significant impact on input costs in our butter and spreads business.
“We expect to accelerate sales of demineralised whey and GOS in the second half of this year. In conjunction with our partner Fonterra we are making good progress in developing sales channels for our products.
“Our strong brands and the quality and efficiency of our operating facilities mean that we are well positioned to grow. While we expect butter input costs to continue to be challenging for the remainder of the year, we are confident in delivering our full year expectations.”
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