Dairy Crest reports revenue growth, full year outlook unchanged
Source - SMW
Dairy Crest reported total revenue rose 7% for the first nine months of year, while the outlook for the full year remained unchanged.
The rise in revenue for the first nine months of the year compared to the previous year was driven by combined strong performance from the company's key brands such as Cathedral City, Clover, Country Life and Frylight.
All of Dairy Crest's spreads brands - Clover, Utterly Butterly, Vitalite and Willow - continued to gain market share, the company said.
Mark Allen, Chief Executive of Dairy Crest, said:
'We have seen strong growth across our key brands, with Cathedral City, Clover and Frylight performing well and all of our spreads brands increasing market share.'
'I am delighted that Cathedral City Spreadable, one of our more recent innovations, was voted 'Product of the Year 2018' in the cheese category by consumers.'
'We continue to build the customer base for our functional ingredients business and we will talk in greater detail about this in May.'