Dairy Crest maintains guidance as sales climb 6% in Q3

Writer, Stock Market Wire
Thursday, January 31, 2019 - 08:08

Dairy Crest on Thursday maintained its outlook for the full year as sales grew 6% in the third quarter on 'strong' performance from its key brands and product launches.

Both volume and revenue grew by around 6% as the company's key brands - Cathedral City cheese, Clover spread and Frylight brands -- delivered strong growth in the third quarter.

Cathedral City had a 'particularly good' third quarter, the company said. Both volume and revenue grew by around 10% helped in part by new product launches, including flavoured snack bars, Lactose Free and a refreshed kids' snacking range.

Frylight returned to double digit volume and revenue growth in the third quarter, although over the nine month period the brand declined due to the 'challenging' first half of the year, the company said.

The company said its the outlook for the full year remains in line with its expectations.

'Our key brands have delivered exceptional performance in the third quarter with all four generating both volume and revenue growth. Demand for our functional ingredients is also increasing, with positive implications for price,' said Mark Allen, Chief Executive of Dairy Crest.

At 8:08am: (LON:DSG) Dillistone Group PLC share price was 0p at 60.5p

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