LONDON, May 22, 2014 /PRNewswire/ --
In a video interview to coincide with Dairy Crest's annual results, CEO Mark Allen says that profitability during the year was up 31% to £65m, with 4% growth from the brands. During the period £25m of costs were taken out of the business.
He gives an update on the project to begin producing demineralised whey powder, which will give the business exposure to a fast growing market. He also reveals that manufacturing development remains on track and that a partner in the sector has been selected.
After assessing the impact that the European Union's abolition of milk quotas will have from April 2015 he concludes:
"I think the thing we can't get away from is that the retail environment is going to be challenging. Having said that, if we concentrate on the things that we can do well, it should be okay. Now what are those things? Developing our brands. Making sure we innovate. Making sure we advertise. Making sure we promote those brands... If we do those things and carry on doing those things well, the future looks good."
The interview and transcript are available now on http://video.merchantcantos.com/.
MerchantCantos produces in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email firstname.lastname@example.org or phone +44-207-936-1352.
SOURCE Dairy Crest PLC