22 September 2014 – trading update
Dairy Crest has issuing a trading update for the six months ending 30 September 2014. Group profits are set to be broadly in line with last year. However, property profits from the sale of surplus delivery depots will make up a greater proportion of profits than in the same period last year. This has been reported previously. As part of the drive to reduce costs, consultation with employees regarding the closure of a glass bottling dairy in Hanworth, West London and a specialist cream potting facility in Chard, Somerset has commenced. The two sites currently employ around 260 people in total. Interim results are due to be released on 6 November and ahead of that announcement we rate the shares as a BUY .