Dairy Crest, the UK’s largest dairy manufacturer, said today (17 July) that trading is meeting expectations thanks to growth from some key brands and success in winning higher prices.
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The company said “good brand growth” and price hikes had “broadly” offset rising costs during the three months to the end of June.
Growth from Cathedral City cheese and a recovery from spreads brand Clover – after last year’s product recall – drove a 14% rise from Dairy Crest’s food division.
Turnover from Dairy Crest’s dairies division rose 5% as the company won price increases to cover last year’s rise in raw material costs.
“We have made good progress in the first few months of the year and our key brands continue to perform well,” said Dairy Crest chief executive Mark Allen.
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By GlobalDataThe company will issue a half-year trading update in September and its interim results on 11 November.
