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Company Dairy Crest Group PLC
TIDM DCG
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Contract to supply milk to Sainsbury's

Released 07:00 19-Feb-2013
Number 1501Y07

RNS Number : 1501Y
Dairy Crest Group PLC
19 February 2013
 



 

19 February 2013

 

Dairy Crest Group plc ("Dairy Crest")

Contract to supply milk to Sainsbury's

 

Dairy Crest, the leading UK-owned dairy foods company is today announcing that it has retained its contract to supply liquid milk to Sainsbury's from February 2014, after a competitive process.  The new contract is for 3 years until 2017.  Although the conditions of the contract will change from 2014 our ongoing cost reductions are expected to offset any financial impact on our business.

 

Dairy Crest continues to focus on driving efficiencies so it can meet customers' demands for cost, quality and service.  In its IMS on 7 February 2013 it reported that it was on track to exceed its annual cost savings target by delivering savings of around £23 million for the year ending 31 March 2013 and that it had already identified several meaningful projects for the following year.

 

Mark Allen, Chief Executive of Dairy Crest, commented:

 

"We are delighted to have retained our Sainsbury's business.  Our track record of making efficiencies allows us to supply our customers with competitively priced milk, pay our farmers a fair price and move towards our medium-term target of 3% return on sales in our Dairies business."

 

 

For further information, please contact:


Dairy Crest Group plc

Arthur Reeves

 

01372 472236

 

Brunswick

Simon Sporborg

Sophie Brand

 

020 7404 5959

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Contract to supply milk to Sainsbury's - RNS