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Dairy Crest defies economic gloom

19 September 2011

According to reports in the UK press, Dairy Crest said it thinks overall profits for the first half will be ahead of the same period last year as selling price increases offset the impact of input cost pressures

The Evening Standard reported Dairy Crest was ''confident of delivering a full-year profit in line with its expectations.''
 
This is particularly good news for the company considering the economy has been subjected to one body blow after the other as the government's cutbacks and the Euro zone crisis take their toll.

The company issued a statement saying: "Despite the pressure on consumers' disposable incomes, sales of our five key brands have continued to increase, although volumes of these brands will be lower than in the same period last year.''

The Telegraph, meanwhile, said that in its annual report earlier this year, Mark Allen, chief executive, said rising milk, ingredients, packing and distribution costs were to blame for a "challenging" 12 months. At the time, Allen said higher selling prices would be agreed with customers after pre-tax profits flatlined in the year ending 31 March.

Ahead of its interim results in November, the group announced the 1,330 dairy farmers that supply the group will receive a price rise of 1.85p per litre from 1 October.




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