5 percent drop21 May 2008 22:07
Ones like this fascinate me ft.com
"Dairy Crest said it had managed to recoup increased commodity costs fully through higher prices and cost savings. The raw material bill was up by about £200m in the year to March, the milk, cheese and spreads group said as it reported adjusted pre-tax profits up 24 per cent to £96.1m on sales 20 per cent higher at £1.57bn.
Mark Allen, chief executive, said he was confident Dairy Crest would continue to be able to pass inflation in costs on to retailers “as and when” it became necessary. He said that was due to “the strength of our brands, and the strength of our relationships with customers”.
and yet still a 5 percent drop