Dairy Crest celebrates 20 year listing anniversary
Dairy Crest Chief Executive, Mark Allen, is to officially open trading on the London Stock Exchange (LSE) on Tuesday 23 August 2016, to mark the 20th anniversary of the company’s listing.
Dairy Crest floated on the LSE in 1996, and has since evolved from a supply-driven, commoditised business to a lean, branded and added value business. Today’s business has industry-leading margins and derives nearly all of its income from its market-leading brands and added value products, including the nation’s favourite cheese brand Cathedral City. Having grown from retail sales of just £12 million in 1996 to almost £300 million today, Cathedral City is a great British success story.
Mark Allen, Dairy Crest’s Chief Executive said, “I’m very proud that twenty years on from our original listing, Dairy Crest continues to thrive as a listed British dairy company. During that period we have adapted and taken bold decisions to transform the business and ensure that our future prospects are more exciting than ever. Our strategy of de-risking the business and pursuing sales in branded and added value markets continues to work. Our market-leading brands and growing presence in new, high growth markets through our infant formula business will underpin future growth and attractive returns for shareholders.”
“I would like to thank everybody who has been involved with the company and contributed to its success over the last 20 years, including our colleagues, farmers, customers and shareholders.”
Mark Allen will be joined at the ceremony by the company’s directors and senior management, as well as a number of head office staff and advisers.
For more information please go to www.dairycrest.com.
Brokers: Peel Hunt, Shore Capital
Financial/Corporate PR advisers: Brunswick Group