LONDON May 24, 2012
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.
SOURCE Dairy Crest PLC