Dairy Crest Group PLC AGM and Trading Update (8080U)
17 July 2018 - 4:00PM
UK Regulatory
TIDMDCG
RNS Number : 8080U
Dairy Crest Group PLC
17 July 2018
17 July 2018
Dairy Crest Group plc ("Dairy Crest")
AGM and Trading Update
Dairy Crest is issuing the following Trading Update for the
three months ended 30 June 2018 ahead of its Annual General Meeting
which will be held later today.
Trading performance
Trading in the first quarter has been in line with our
expectations and our 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. 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, commented:
"2018/19 has started as we expected, with our two most important
brands, Cathedral City and Clover, delivering a strong performance.
While the butter market remains challenging, our spreads portfolio
continues to go from strength to strength, demonstrating the
benefit of our diversified portfolio. Our Functional Ingredients
business is becoming more established and the customer base
continues to build.
"Innovation is the cornerstone of this business and 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."
ENDS
Dairy Crest's Annual General Meeting will be held today at 12 pm
at the offices of Eversheds LLP, 1 Wood Street, London EC2V
7WS.
Dairy Crest expects to issue its half-yearly trading update on
17 September 2018 and its Interim Results for the six months ending
30 September 2018 on 7 November 2018.
For further information:
Dairy Crest
Tom Atherton 01372 472264
Kate Goode 01372 472236
Brunswick
Tim Danaher / Alison Kay 020 7404 5959
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END
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