FDBusiness.com

Dairy Crest Group has reported a 2% rise in revenue to £224.9 million and a 13% increase in adjusted profit before tax to £22.7 million for the first six months ended 30 September 2018 as its two largest brands, Cathedral City and Clover, delivered strong growth of 7% and 9% respectively and demand for the group’s functional ingredients continued to grow following expansion of the Davidstow cheese plant.

Mark Allen, chief executive of Dairy Crest.

Mark Allen, chief executive of Dairy Crest, comments: “Innovation continues to shape the business and we have recently launched exciting new products in all of our categories. We understand the importance of staying ahead of the market and ensuring we are meeting consumers’ needs. Food provenance, health and wellbeing are core themes which we will continue to focus on.”

He adds: “Our investment at Davidstow is progressing as planned. We are pursuing a number of opportunities to take Cathedral City into new international markets as well as deepen its penetration into existing domestic channels, capitalising on its status as one of the UK’s top ten brands according to YouGov. We are confident in delivering our expectations for the full year.”