UK dairy products manufacturer Dairy Crest has said it traded well in the first half of the year and expects adjusted group profit before tax (before exceptional items and goodwill amortisation) to show good growth on the first half of last year. 

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For the six months ending 30 September 2004, the company said its core spreads business continued to perform well. Dairy Crest increased investment in media support for its key brands: Clover, Utterly Butterly, St Ivel Gold and Country Life. St Ivel Gold and Country Life Spreadable performed particularly strongly during the period. 


In the company’s cheese division, increased marketing and promotional support behind Cathedral City resulted in a period of strong growth consolidating its position as the UK’s leading branded cheddar. The new creamery at Davidstow was successfully commissioned on schedule and is now the biggest cheese plant of its kind in Europe and capable of processing up to 55,000 tonnes of cheddar per annum. 


The Yoplait brands continued to show good growth with YOP, Frubes and Wildlife performing strongly. However, offsetting this, the own brand fresh dairy products market remains challenging and consequently Yoplait Dairy Crest announced in July 2004 the proposed closure of its Enfield factory in early 2005, the company said. 


The liquid products business traded well in the first half, with flavoured milk drink Frijj showing good volume growth.

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“We are pleased to have been maintained as a key supplier of fresh milk to both Sainsbury’s and Morrison. However we were disappointed to be notified by Tesco that Dairy Crest’s existing supply arrangements for fresh milk will cease in the first quarter of 2005. The timing of this change will limit the impact on the current financial year. However, as announced on 28 August 2004, this will have a significant impact on profits in the year ending 31 March 2006,” Dairy Crest said.


CEO Drummond Hall said it had been a solid six months of trading for Dairy Crest with results in line with expectations across its range of businesses.


“We continue to be encouraged by the performance of our major brands. Our priority in the second half will be to address the ongoing profitability of the fresh milk business while continuing to invest in developing our brands,” he added.