Dairy product manufacturer Dairy Crest (LON:DCG) reported a revenue rise of 7 percent in the first nine months of year, sending shares up over 2 percent at market open on Wednesday.
Revenue rose 16 percent over the period to £220.1 million, with adjusted profit before tax up 8 percent to £20.6 million.
Its cheddar cheese brand Cathedral City was one of its best sellers, seeing volume growth of 10 percent, whilst both Clover and Frylight also grew their market share, both of which drove the group’s performance over the period.
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.”
Shares in Dairy Crest are currently up 2.59 percent at 574.50 (0831GMT).
