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Dairy Crest H1 Adj. Pretax Profit Rises, Revenue Up 2%; FY Outlook Unchanged

Dairy Crest Group plc (DCG.L) reported profit before tax of 17.8 million pounds for the six months ended 30 September 2018 compared to 151.4 million pounds, previous year. Earnings per share was 9.6 pence compared to 86.8 pence. The Group noted that its prior year reported figure for pretax profit included an exceptional gain of 132.4 million pounds in relation to the pension fund. Adjusted profit before tax was up 13% to 22.7 million pounds. Adjusted diluted earnings per share was 12.2 pence compared to 11.5 pence.

First-half revenue was up 2% year-over-year to 224.9 million pounds. Cathedral City and Clover delivered revenue growth of 7% and 9% respectively, for the period.

Looking forward, Dairy Crest Group said it is confident in delivering its expectations for the full year.

A dividend of 6.4 pence per share will be payable on 31 January 2019 to shareholders on the register on 3 January 2019.

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