Dairy Crest trading in line
Cheese and milk producer Dairy Crest said group sales increased by 2% in the first nine months of the year on a like for like basis as it battles against a challenging business environment.
Cheese and milk producer Dairy Crest said group sales increased by 2% in the first nine months of the year on a like for like basis as it battles against a challenging business environment.
The group, which produces Cathedral City cheese, Clover and Frijj, said it has coped well in difficult trading and overall it is operating in line with company expectations.
The 2% increase in sales excludes the effect of the disposal of its majority stake in Wexford Creamery.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group said trading remains difficult at its Dairies business where a combination of high milk purchase prices and lower cream realisations is hitting profitability. Dairy Crest said it continues to focus on cost reduction.
In contrast its foods division traded strongly and its three key Foods brands in the UK, Cathedral City, Country Life, and Clover, performed well over the third quarter, boosted by a strong marketing programme. Its French spreads business St Hubert enjoyed a very strong quarter and increased its market share.
Chief executive Mark Allen commented, "Dairy Crest has coped well in a challenging business environment. Although we remain cautious about the economic environment we continue to manage the business proactively to meet the challenges we face."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry