US dairy giant Dean Foods has reaffirmed its 2004 and long-term profit targets.

Chief executive Gregg Engles said he still expects earnings per share to rise by 10-12% for the company's fiscal 2004 year, and by 8-10% over the long term, reported Reuters.

Engles said he also expects the company, which is the largest US dairy processor, to continue to close factories in a bid to cut costs and improve profit margins.