UK dairy firm Express Dairies has said that trading so far this year has been in line with expectations, despite a challenging market background.
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At the company’s annual general meeting, Sir David Naish, chairman, said: “On 7 July, the Competition Minister announced that he had decided to refer the proposed merger with Arla UK to the Competition Commission.
“As stated in our preliminary announcement, we consider it prudent that stand alone plans to address volume and cost issues remain on hold until the regulatory picture is clear. This delay will therefore continue to restrain our profitability for the next few months.
“The board, however, remains optimistic of a satisfactory outcome to the regulatory process to the benefit of all stakeholders. Pre merger planning with Arla UK has been encouraging and reinforces further the board’s optimism regarding the prospects for the new group,” Naish concluded.
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