UK dairy products company Dairy Crest has reported a 6.5% fall in first-half profits but says it expects second-half profits to recover.
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The group, which markets brands such as Clover spreads, Cathedral City cheddar cheese, Frijj flavoured milk and Yoplait yoghurts and desserts, has suffered as UK commodity cheese prices fell to a 10-year low.
Adjusted pre-tax profits of £31.6m (US$50m) for the six months to 30 September, compared with analysts forecasts of £31-32m.
