Brands Boost Dairy Crest ; High-Margin Sales Growth Outweighs Falling Turnover

Summary

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DAIRY Crest has not had a easy recession, but the company famous for its Country Life butter and Cathedral City cheese has a strategy in place that should deliver further returns.

At first glance the outlook for the group looks uncertain. Half- year figures released in September showed turnover falling by one per cent, but that tiny slip was more than outweighed by profits up nine per cent from Pounds 35.1 million to Pounds 38.1 million. At its third-quarter trading update this month, it confirmed sales were falling at one per cent, but again said profits were slightly ahead of expectations.

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Brands Boost Dairy Crest ; High-Margin Sales Growth Outweighs Falling Turnover

The reason for this apparent mismatch is that while total revenues are down due to lower sales of raw dai...

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