Dairy Crest H1 Revenues Up 29%

UK-based food company Dairy Crest has reported an increase in revenues by 29% to GBP761.4 million for the six months ended September 30, 2007 compared with GBP588.6 million for the same period in the previous year.

For the six-month period, profit before tax was GBP30.6 million, up 3% compared to GBP29.8 million for the same period in 2006. Earnings per share increased by 14% to 20.3 pence compared with 17.8 pence for the six month period of 2006.

Mark Allen, CEO of the company, said: “Dairy Crest has delivered a good first half performance. Most of our key pillar brands including Cathedral City, Country Life Spreadable, Utterly Butterly, St Hubert Omega 3 and Petits Filous are performing strongly. Whilst market conditions are challenging, we are implementing price increases across most dairy categories to reflect higher raw milk costs. The group’s expectations for the full year remain unchanged.”