Dairy Crest announces increased profits of 19 per cent to £19.1m

Dairy Crest announces increased profits
Dairy Crest announces increased profits

Dairy Crest, a leading British dairy company, has announced interim results for the six months ending in 30 September 2016, showing a profit increase of 19 per cent.

The company is famous for producing products such as Clover, Country Life, Frylight and Cathedral City. It buys milk from around 400 direct supplying dairy farmers in the South West.

Mark Allen, Chief Executive, said: “We are pleased to have delivered a strong set of interim results in our first full trading period since the sale of Dairies.

“We are also seeing the benefits of Dairy Crest’s transformation into a leaner and more focused organisation, with strong profit growth and significantly improved cash generation during the first half. Our expectations for the full year remain unchanged.

“Looking further ahead, the significant investment at Davidstow has opened up attractive opportunities in high-margin, global infant formula markets as well as the potential to develop new functional ingredients. Combined with our continued focus on innovation within our key brands, this will underpin future growth and help us to maintain our strong track record of rewarding shareholders with higher dividends.”