Dairy Crest Group Q1 Trading In Line With Its View; FY Outlook Unchanged

Dairy Crest Group plc (DCG.L) reported that its trading in the first quarter has been in line with its expectations and the outlook for the full year remains unchanged. Combined sales revenues of Dairy Crest’s four key brands – Cathedral City, Clover, Frylight and Country Life – were 6% higher than the same period last year. The group said this was driven by the ongoing outperformance of the company’s two largest brands, Cathedral City and Clover, which both grew revenues by 10%.

Mark Allen, Chief Executive, said: “2018/19 has started as we expected, with our two most important brands, Cathedral City and Clover, delivering a strong performance. We expect to announce several new product launches before the end of 2018. Following the May capital raise our balance sheet is more robust and our expectations for the full year remain unchanged.”

by RTTNews Staff Writer

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