Dairy Crest warns of more price hikes

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The Independent Online

Cathedral City and Clover group Dairy Crest today said more price increases were on the way as it battles to offset soaring costs.

The firm said it would hike prices "as necessary" to combat rising fuel, energy and commodity cost pressures.

Dairy Crest has passed on many of its higher overheads to consumers after milk costs rose by a third on last year.

It has been able to make "good progress" over the past 12 months as a result and also thanks to a renewed focus on its flagship cheese and spread brands.

Dairy Crest confirmed it hoped to match its expectations for full year results, although it will take an "exceptional" £4.5 million hit from one unfavourable supply contract.