UK dairy products maker Dairy Crest has reported higher interim profits and said results were in line with expectations.
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The company, whose brands include Davidstow cheese, Utterly Butterly spread and Yoplait yoghurts, said adjusted profit before tax was £38.8m (US$72.2m) for the six months to 30 September, compared to £35.4m a year earlier.
Dairy Crest said its priority in the second half is to address the ongoing profitability of the fresh milk business following recent volume losses.
“Dairy Crest has delivered a solid first half with results in line with expectations across all of our businesses, and we continue to be encouraged by the performance of our major brands. We are continuing to invest in developing the business at the same time as taking action to address the ongoing profitability of the fresh milk business. Overall we expect a satisfactory outcome for the full year,” said chief executive Drummond Hall.
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