Dairy Crest FY Profit on Track

Dairy Crest Group, the UK-based company responsible for Cathedral City cheese, expects annual profit to be in line with expectations, due to solid sales of its cheese, yoghurt and butter brands and cost cutting initiatives in its milk division.

After recording a “strong” performance in the first quarter, driven by good performances from key brands such as Cathedral City, Petits Filous yogurt and Country Life Spreadable, the dairy firm has reiterated its forecasts for the year ended March 31, 2008.

Speaking in a statement, chairman Simon Oliver said: “Dairy Crest has had a strong trading performance in the first three months of the current financial year. The group’s expectations for the full year ending 31 March 2008 remain unchanged.”