Dairy co-operative Arla Foods has reported H1 the full year revenue growth of 2.3% YoY to £961m ($1.2bn), driven by a 6.7% increase in sales of core brands, as well as Lurpak and Castello brands. A weak pound and rising ingredient prices made the first half of the year challenging, but the co-operative initiated a transformation and efficiency programme called Calcium which is focused on cutting cost by over €400m ($463m). For 2018, the firm expects to achieve its the full year profit target of 2.8% to 3.2%, which it plans to hand back to its drought-hit farmer-owners across Europe.
Dairy co-operative Arla Foods has reported H1 2018 revenue growth of 2.3% YoY to £961m ($1.2bn), driven by a 6.7% increase in sales of core brands, as well as Lurpak and Castello brands. A weak pound and rising ingredient prices made the first half of the year challenging, but the co-operative initiated a transformation and efficiency programme called Calcium which is focused on cutting cost by over €400m ($463m). For the full year, the firm expects to achieve its 2018 profit target of 2.8% to 3.2%, which it plans to hand back to its drought-hit farmer-owners across Europe.