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BRIEF-Dairy Crest says expectations for FY profit before tax remain unchanged
February 9, 2017 / 7:26 AM / 6 months ago

BRIEF-Dairy Crest says expectations for FY profit before tax remain unchanged

Feb 9 (Reuters) - Dairy Crest Group Plc

* Interim management statement

* Outlook for full year remains in line with our expectations.

* Our key brands have continued to perform well

* Clover, Frylight and Country Life have all grown volumes in first nine months of year and have taken significant share in their respective markets

* As predicted, Cathedral City performance improved in q3.

* Overall, in first nine months of year combined volumes of Cathedral City, Country Life, Clover and Frylight are in line with same period last year.

* We have seen further milk cost inflation since half year and have now announced increases in price paid to farmers of 8.28 pence per litre since june 2016

* This represents an increase of 38 pct

* Market prices for cream have remained high after more than doubling in first half of year.

* Expect year end net debt to be somewhat higher than 31 march 2016

* Board has approved appointment of Deloitte as external auditor for year commencing 1 April 2017.

* " outlook for full year remains in line with our expectations." - ceo Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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