Dairy Crest is announcing its unaudited results for the six months ended 30 September 2011:

	Half year ended 30 September
Financial Highlights:	2011	2010	Change
Revenue:	£796.2m	£776.9m	+2%
Profit before tax:	£39.2m	£36.1m	+9%
Adjusted profit before tax *:	£43.7m	£40.1m	+9%
Basic earnings per share:	22.4p	19.8 p	+13%
Adjusted basic earnings per share *:	24.8p	21.4p	+16%
Half year net debt:	£365.3m	£335.5m	+9%
Interim dividend:	5.7p	5.5p	+4%

^{* before exceptional items, amortisation of acquired intangibles and pension interest.}

Increased first half profits from broadly based business

- adjusted profit before tax up 9% benefiting from increased property profits 
of £4.6 million from continued rationalisation of depot network
- higher profits in Spreads and Cheese offsetting lower Dairies profits
- adjusted basic earnings per share up 16% helped by lower effective tax rate

On track with efficiency savings

- Annual efficiency savings of £20 million help offset higher input costs

Continuing growth in branded sales

- Sales of five key brands up 5% in aggregate
- Strong performance from St Hubert in France
- Increased selling prices also helped offset higher input costs
- Four new branded ranges launched
- milk&more weekly sales up to £1.2 million
- Branded food business MH Foods acquired for £12.3 million (net of cash)

Debt refinancing complete

- Bank funding in place through to 2016

For further information, please contact:

Dairy Crest Group plc
Arthur Reeves	01372 472236
Brunswick
Simon Sporborg	020 7404 5959

To see the full presentation go to our Investor section.