date:May 25, 2012
When exceptional items, amortisation of acquired intangibles and pension interest, were taken into account, however, Dairy Crest made a 10.1M loss.
The companys food division put in a strong performance (+10%), offsetting poor results from dairy (-2%).
Dairy, however, is no worse than we were expecting and remained in profit, albeit with the help of some higher than normal property profits [all in the first half],said Investec Securities analyst Nicola Mallard.
Food brands, such as Cathedral