Dairy Crest Group Plc (DCG.L) provided pre-close trading update for the six months ending September 30, 2012.
The company stated that trading in the first half of the year has remained challenging and its profits, having adjusted for the disposal of its French spreads business, St Hubert, will be lower than the same period last year. However, Dairy Crest's profit expectations for the full year ending March 31, 2013 remain unchanged.
The company's four key UK brands, Cathedral City, Country Life, Clover and Frijj, have continued to perform strongly in the first half. Increased marketing expenditure behind these brands is supporting this growth.
Dairy Crest further noted that its Dairies business has been facing unprecedented market conditions but the company remains focused on achieving a 3% return on sales in this business in the medium term.
For comments and feedback: editorial@rttnews.com