Dairy Crest rates cheese better than butter as spread sales dip

DAIRY Crest hailed Cathedral City cheese as its star performer yesterday, as it predicted steady sales for its first half of the year.

The dairy food producer, whose products also include Clover, Utterly Butterly and Country Life, said sales of its four key brands for the six months to 30 September are likely to be much the same as at the same time last year. Results will be announced on 7 November.

The company said Cathedral City is likely to have outperformed the market, but added the butters and spreads market had been difficult and profits for spreads brands are likely to be lower than last year.

Chief executive Mark Allen said: “We continue to perform in line with our expectations despite the challenging trading environment. The butters and spreads market has been particularly difficult. We have offset pressures there by growing our cheese business, reducing our cost base and improving the underlying performance of dairies.”

Shares closed up 0.53 per cent yesterday at 474.10p.

Related articles