We are urgently developing research requirements with other European laboratories to make sure we understand and the disease (Schmallenberg) better.Profits rise at Dairy Crest
DAIRY Crest’s half yearly profits are up 20 per cent at £34million – the result of investment in brands, cost control and debt reduction.
The company’s results to September 30 show a marginally reduced revenue at £803.7million but net debt slashed by 22 per cent or £110million. Adjusted pre-tax profit was up 9 per cent at £38.1 million.
The report cites a particularly challenging UK cheese market and a reduction in sales of dairy commodities which tended to offset the strong sales of DC’s five key brands. The company has also seen an improvement in sales of added value products in the liquid sector to major retail customers. Frijj fresh flavoured milk grew 21 per cent and ahead of the market in which it claimed a 50 per cent share.
Looking ahead, chief executive Mark Allen says the company is encouraged by first half progress and second half focus will remain on brands, costs and debt.
