UK dairy products company Dairy Crest has said it expects its first-half results to meet market expectations.
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The company said that tough trading conditions in the UK cheese market were easing and prices of mature cheddar were beginning to increase, reported Reuters.
Dairy Crest said it expected profit margins to rise throughout the rest of the year to 31 March 2004.
The company said its brands were performing well, with Clover, Utterly Butterly, Yoplait and Frijj all registering volume growth of more than 10%. Dairy Crest has been steadily shifting its focus toward value-added branded products, which now account for 55% of group profits.
Dairy Crest also announced it had agreed to sell its chilled juice unit to Princes for £11m (US$18.1m).
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