Farmers Guradian
Topics
How to spot BSE and what farmers can do to prevent it

How to spot BSE and what farmers can do to prevent it

DataHub

DataHub

Dairy Farmer Magazine

Dairy Farmer Magazine

Auction Finder

Auction Finder

CropTec

CropTec

LAMMA 2019

LAMMA 2019

You are viewing your 1 free article

Register now to receive 2 free articles every 7 days or subscribe for unlimited access.

Subscribe | Register

Dairy Crest delivers 'robust performance in tough market'

Dairy Crest has delivered a ‘robust performance in a tough market’ according to chief executive Mark Allen as it announced its results for the year ended March 31 2017.


Alex   Black

TwitterFacebook
Alex   Black
TwitterFacebook
Share This

'I am excited about the future - Dairy Crest delivers 'robust performance' in tough market #teamdairy

Key brands have performed well with Frylight, Clover and Country Life spreadable all increasing market share and growing in volume.

 

Profit before tax increased by 5 per cent to £60.6 million, although its revenue fell by 1 per cent to £416.6m.

 

Momentum

 

Mr Allen said Cathedral City had remained the ‘nation’s favourite cheese’ and had returned to volume growth in the second half of the year. He added this momentum had continued into the new financial year.

 


Read More

‘Keeping Britain healthy for centuries’ - Milk Manifesto launched on World Milk Day ‘Keeping Britain healthy for centuries’ - Milk Manifesto launched on World Milk Day
‘The industry has lost dairy producers at an alarming rate’ - Government approach to bovine TB branded ‘disappointing’ ‘The industry has lost dairy producers at an alarming rate’ - Government approach to bovine TB branded ‘disappointing’
‘We were being penalised for under-production’ - Freshways accused of punishing farmers by docking bonus payments ‘We were being penalised for under-production’ - Freshways accused of punishing farmers by docking bonus payments
'A price reduction has regrettably become necessary' - Dairy Crest announces milk price cuts 'A price reduction has regrettably become necessary' - Dairy Crest announces milk price cuts
'Agriculture may not be well supported beyond 2020' - Brexit could see dairy farmers starved of R&D 'Agriculture may not be well supported beyond 2020' - Brexit could see dairy farmers starved of R&D

“Our overall spreads market share has increased, and Frylight had another outstanding year with sales growing 19 per cent. This is well ahead of the market,” he said.

 

“The ongoing investment that we are putting behind our brands gives me confidence that we can grow market share.”

 

Its proportion of sales from recently launched products was ‘well above target’ at 13 per cent.

 

Its net debt increased by 9 per cent to £249.8m but it said this was expected due to the completion of Davidstow commissioning and its final payment to Muller on the sale of the Dairies business.

 

Future

 

Mr Allen added: “Looking forward, I am excited about the future for Dairy Crest.

 

“The business is well positioned to deliver profitable, sustainable growth and stronger cash generation. This underpins our commitment to growing our dividends and reducing debt.”

TwitterFacebook
Post a Comment
To see comments and join in the conversation please log in.

Most Recent

Facebook
Twitter
RSS
Facebook
Twitter
RSS