Sales of cheese helped prevent Dairy Crest’s fortunes brusquing
The FTSE 250 group said quarterly sales volumes of its four key characterizes: Cathedral City cheese, Clover margarine, Frylight oil and Country Lifestyle butter were up 7 per cent on the same period last year, appealed by 15 per cent growth in Cathedral City.
But it has been forced to clamber up back promotional activity on Country Life, hitting sales but keep safe margins, after a “substantial” rise in cream prices.
Our branded business has delivered good growth in the first neighbourhood
Dairy Crest Chief executive Mark Allen verbalized in a statement to the media yesterday: “The year has started well and our branded transaction has delivered good growth in the first quarter.
“The functional ingredients traffic continues to progress well and new customers are being signed up.
The FTSE 250 group said quarterly sales volumes of its four key identifies were up 7 per cent
«We still expect that the profit contribution from this transaction will be second half weighted.
“Despite the pressure on butter input gets, the strong performance of our cheese business means that our expectations for the year endure unchanged.»
Shares firmed yesterday from 20p to 577p.