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Dairy Crest has said it has had a "transformational" year, characterised by an increased focus on its domestic business and a drive to boost efficiency. The company is now plotting a number of investments designed to grow both the top and bottom line. In a two-part just-food interview, Katy Askew spoke to CEO Mark Allen about how Dairy Crest is improving its cost base and shifting to higher margin products.
Through the sale of its French spreads business, Dairy Crest has worked itself into a position where it has cash to invest in the business. As we heard in part one of this two part interview, CEO Mark Allen is working to reduce the group's cost base and move its product mix up the value chain. But equally important is Dairy Crest's drive to get the top line moving. Katy Askew caught up with Allen to find out how the chief executive plans to achieve this.
This week, Lindt & Sprungli announced it was stepping up its presence in the US with the acquisition of Russell Stover Candies. Hain Celestial bought the remaining share of the Hain Pure Protein joint venture and Grupo Bimbo revealed its plan to grow its presence in Ecuador with the acquisition of Supan. Elsewhere Mondelez announced it was splitting its cheese and grocery unit from the rest of the business. Here is the week in quotes.
Dairy Crest has announced it is pulling its blended seed-based spread Clover Seedburst off shelves after performance fell "behind expectations".
Dairy Crest saw the combined sales of its four key brands rise in its first quarter - but revealed spreads brand Clover was continuing to see its sales under pressure.
Dairy Crest is to team up with Fonterra and Fayrefield Foods to produce and supply ingredients to infant formula manufacturers.
Property profits helped boost underlying annual earnings at Dairy Crest, which saw its shares fall in early trading today (22 May).
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