Dairy Crest Preliminary Results Interview With CEO
LONDON, May 24, 2012 /PRNewswire/ --
Dairy Crest, the only UK listed dairy business, released its 2012 preliminary results today saying double digit growth in branded Spreads and Cheese offset poor results in the Dairy business. The company said it had benefitted from being a broadly based business.
Adjusted profit before tax was slightly below last year at £87.4m. The company emphasised this was a good result given the general economic environment and the substantial cost inflation they dealt with during the year, adding that the goodwill impairment of £71m that pushed the company into an overall loss was a non-cash accounting charge related to acquisitions in the Dairy division made five to ten years ago.
In a video interview, CEO Mark Allen said the company had been continuously improving the Dairy business, adding, "we would expect that in the medium term we could get profitability back to the level of 3% return of sales where we were just a couple of years ago."
The interview and transcript are available now on http://www.cantos.com/company/Dairy%20Crest.
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