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Dairy Crest forges ahead after milk sale

Cheese and butter maker said its branded business was doing well
Cheese, pickle and biscuits
Dairy Crest has re-launched cheese brand Cathedral City

Dairy Crest Group plc (LON:DCG) is pressing ahead with a shake-up of its business after off-loading its milk operations.

The company said it had successfully re-launched cheese brand Cathedral City with new packaging, branding and marketing.

It also reported benefits from investing in infant formula ingredients with improved efficiency at its demineralised whey production facilities.

Dairy Crest sold its milk business to Müller UK & Ireland for £80mln last year in a bid to focus on its dairy food division.

It said trading in the first quarter had met its expectations.

Combined sales volumes of Dairy Crest's four key brands - Cathedral City, Clover, Country Life and Frylight - were matching the same period last year. The outlook for the full year remained unchanged.

Chief executive Mark Allen, said: "The year has started as we expected.  Our branded business continues to perform well.

"Our butters, spreads and oils business is progressing well. Clover and Country Life have both built on the momentum from the second half of last year. Frylight sales are also growing strongly."

Shares rose 5p, or 0.87%, to 576.5p in early London trading. 

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