FMCG News: Dairy Crest Profits rise

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REC

Profits up at leading chilled dairy company.
The UK's leading chilled dairy foods company have announced pre-tax profits of Ł66.0m for the year 07/08, up 2% on the previous year. Total revenue was also up, an increase of 20% to Ł1,569.7m.

Mark Allen, Chief Executive of the group attributed the strong results to "Strategic moves made in the last eighteen months." Continuing on the reasons behind the success; "Key brands in the UK and France, including Cathedral City, Country Life Spreadable, Utterly Butterly, St Hubert Omega 3, Petits Filous and Frubes have increased market share with double-digit sales growth."

Mr Allen added that Margerine brand Clover was on course for a strong recovery and that price increases and cost management had also combined to improve the total figures. Trading figures at the start of the new financial year are believed to be meeting expectations.