Dairy Crest (LON:DCG) shares edged up on Tuesday morning, after reporting a 6 percent rise in revenues for the group’s key brands.
Combined sales revenues of Dairy Crest’s four key brands – Cathedral City, Clover, Frylight and Country Life – were 6 percent higher in the recent quarter. Cathedral City and Clover, its two biggest brands, were the biggest drivers of growth.
Outlook for the full year remained unchanged after the strong results.
“2018/19 has started as we expected, with our two most important brands, Cathedral City and Clover, delivering a strong performance,” said Mark Allen, Chief Executive.
“Innovation is the cornerstone of this business and we expect to announce several new product launches before the end of 2018.”
Back in May Dairy Crest sought £69.8 million from investors in order to expand, pushing up cheese production from 54,000 tonnes per year to up to 77,000 tonnes as demand soars.
Dairy Crest shares are currently trading up 2.75 percent at 481.50 (1031GMT).
