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.
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.
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