Dairy Crest confirmed Cathedral City cheese and its spreads brands, including Clover, were the power behind a sales performance that was “well ahead” of last year, according to a trading statement.
Dairy Crest’s four key brands – Cathedral City, Country Live, Clover and Frylight – will continue to drive volume growth for the company in the first half of this year, according to its pre-close trading update for the six months to September 30.
Dairy Crest has posted a £2.9M rise in adjusted profits to £60.6M in its first full tax year since selling its dairies business, while sales for the company fell.
Dairy Crest’s Clover, Frylight and Country Life brands took “significant share” in their respective markets over the past nine months, the dairy firm said in its third-quarter trading update, with analysts predicting a pre-tax profit of £61.5M.
Dairy Crest reported a 19% rise in profit before tax to £19.1M in its half-year trading update, boosted by rebranding of its Cathedral City cheese brand and volume growth in Clover, Country Life and Frylight.
Unite the union has demanded to see Müller’s financial figures after the dairy firm revealed plans to close its Chadwell Heath factory, north London, cutting 389 jobs.
Dairy Crest’s four key brands – Cathedral City, Clover, Country Life and Frylight – are expected to deliver combined volume growth in the first half of this year, according to the firm’s pre-close trading update for the six months to September 30.
Food producers are missing out on “untapped opportunities” that can only be realised by closer collaboration across the supply chain, according to the head of a logistics firm.
Dairy Crest has been praised for its “very commendable” financial performance by City analyst Shore Capital, after it posted broadly flat sales and volumes up 2% in the “challenging” dairy market, for the nine months to December 31 2015.
Newly-formed dairy firm Müller Milk & Ingredients can play a major role in revitalising the sector but must “integrate with pace” to realise its potential, its boss has claimed.
Dairy Crest’s £80M sale of its dairies operations to Müller has secured approval from the Competition and Markets Authority and been heralded from the environment secretary Liz Truss, today (October 19).
“Cheese motors, spreads lag” was the succinct summary given by one city analyst after Dairy Crest published its latest trading update today (September 22).
Müller is one step closer to concluding its deal with Dairy Crest, following the Competition and Markets Authority’s (CMA’s) announcement that it agrees with Müller’s proposals for alleviating anti-competition concerns.
Dairy Crest’s boss Mark Allen has been branded a “fat cat” and a “hypocrite” by Unite, after the union claimed he was set to receive a £1.2M bonus in a proposed takeover deal.
Müller’s £80M buyout of Dairy Crest could be completed by the end of this year, after the German firm offered to supply fresh milk to a third-party processor to appease competition fears.
Big supermarkets may have influenced the Competition and Markets Authority’s (CMA’s) decision to deepen its probe into the proposed merger of Dairy Crest Group’s Dairies Division with Müller-Wiseman, according to leading City analyst Shore Capital.
Dairy Crest’s plan to sell its dairies to Müller UK & Ireland is to be probed by the UK Competition and Markets Authority (CMA), after the £80M deal was referred by the EU.
Dairy Crest will reap big rewards from its spreads business, Shore Capital analyst Darren Shirley claims, raising his profit forecast for the division by £26M as he covered its interim management statement.
Dairy Crest is investing £4M in a food innovation centre at Harper Adams University campus at Newport in Shropshire, which it hopes will help it boost new product development.
Dairy Crest has won praise from a leading food industry analyst for the “solid performance” of Cathedral City, Country Life, Clover and Frijj, announced in a pre-close trading update.
Up to 260 jobs are threatened as Dairy Crest announces proposals to close two factories at Hanworth in West London and Chard in Somerset amid plans to ditch glass milk bottles.
Capital investment is sexy and Dairy Crest has just come to the end of a four-year investment plan, which saw £75M spent across the company’s dairy operations.
Dairy Crest’s confirmed strategic partnership with the infant formula company Fonterra yesterday (July 3), as well as an announced £20M investment in its Davidstow site to manufacture lactose-based prebiotics, is “good news” to analysts.
Raw material costs climbed by £40M for Dairy Crest in the past year, but the UK dairy firm achieved a strong double-digit profit increase and savings of £25M, ahead of expectations.
Dairy Crest expects to report full-year profits ahead of market expectations, thanks to a £10M boost from the sale of its Nine Elms milk depot, according to its interim management statement covering the nine months to December 31 2013.
Dairy Crest’s spreads business was hit by fewer butter promotions and higher cream costs, dragging down overall sales, the manufacturer reported in its first half financial figures.
Cost cutting remains a key part of Dairy Crest’s strategy to cope with a challenging market, according to the firm’s trading update for the six months to September 30.
Dairy Crest chief executive Mark Allen has netted £328,751, after selling shares in the firm to fund the purchase of a new family home following his recent divorce.
Tetra Pak may be downplaying UK dairy processors’ potential for growth in the flavoured milk market, Andy Smith, UK and Ireland marketing manager at the firm, has claimed.
Dairy Crest will continue to “hold up a mirror to itself” and maintain its drive for efficiencies in a bid to compete against foreign competitors which have access to cheaper milk.
Dairy Crest's liquid milk contract renewal with Sainsbury, which is expected to stabilise its dairy business over the coming years, has been welcomed by analysts.
