Dairy Crest revenue drops 7pc

Britain’s Dairy Crest Group, the maker of Cathedral City cheese, reported a 16 per cent fall in first-half profit as its core milk business continued to struggle. April to September adjusted pre-tax profit fell to £19.1m from £22.7m a year earlier. Revenue fell seven per cent to £688.2m. Revenue from dairies, which accounts for three-quarters of total revenue, was down about 11 per cent. UK’s dairy industry has been rocked by widescale protests by dairy farmers demanding higher prices from milk processors and supermarkets. Dairy Crest’s higher-margin dairy foods business has compensated for the decline in its milk business. The company said total sales of its four key brands – Cathedral City, Country Life, Clover and Frijj – were up 11 per cent during the period.