Dairy Crest see 60% fall in profit

Published 22 May 15

Dairy Crest have released the company’s end of year financial results, which show that profit before tax has fallen by nearly 60%. Despite a £10.8m increase in profit for its Cheese & Spreads division, profit from the Dairies division fell 90% to £1.8m.

The sharp decline in profitability of the Dairies division is mostly due to costs linked to the proposed sale of the division and for rationalising sites, totalling £16.1m. If these costs are excluded, operating profits for the dairy division fell by 5%.

 

2014/15

2013/14

% change

Revenue

£1,330m

£1,391m

-4

Cheese & Spreads profit

£66.9m

£56.1m

+19

Dairies profit

£1.8m

£18.8m

-90

Profit before tax

£22.1m

£54.2m

-59

Year-end debt

£198.7m

£142.2m

+40