Dairy Crest profits up 14%
DAIRY CREST, one of the UKs three biggest dairy companies, has increased its full-year pre-tax profits by 14% to £40.6 million through strong self-promotion of its own cheese brands.
The company managed to increase its results for the year ending 31 March, despite stern competition in the commodity side of its business, which held turnover to £787m.
John Houliston, chief executive, said the results vindicated the companys long-term efforts to develop premium products. A successful drive to promote Dairy Crests Cathedral City cheese helped the companys bottom line, he said.
He said the companys commodity element of its business was diminishing every year. Dairy Crest would therefore continue to spend more on establishing brands and buying existing brands and building them up, he added.
- Financial Times 03/06/98 page 25
- The Scotsman 03/06/98 page 25
- The Times 03/06/98 page 28