UPDATE 1-Spreads and cheese lift Dairy Crest H1 profit

Thu Nov 12, 2009 7:28am GMT
 
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* H1 adjusted profit up 9 pct to 38 mln stg

* H1 revenue down 1 pct to 804 mln stg

* H1 net debt down 22 pct to 380 mln stg

* H1 dividend down 25 pct to 5.3 pence a share

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LONDON, Nov 12 (Reuters) - Britain's Dairy Crest (DCG.L) posted a 9 percent rise in first-half profit as cost cutting and strong sales of its cheese and spreads brands offset weaker performances in dairy commodities and milk doorstep delivery.

The maker of Cathedral City cheese and Clover spreads said on Thursday it made profit before tax and one off items of 38.1 million pounds ($63.2 million) in the six months ended Sept. 30.

"Our second half focus will remain on cash management, cost reduction and the development of our key brands," Chief Executive Mark Allen said in a statement.   Continued...

 

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