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Dairy Crest profit up, to expand cheese business

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(Reuters) – Dairy Crest Group Plc <DCG.L>, Britain’s largest dairy food company, said full-year profit rose 3 percent, helped by strong demand for its cheese brand, Cathedral City.

The milk processor reported an adjusted profit before tax of 62.3 million pounds for the year ended March 31, higher than the 60.6 million pounds posted a year ago.

Cheese volumes rose 3 percent and revenue from the business came in 24 percent higher, while total revenue rose 10 percent to 456.8 million pounds.

Separately, the company also said it would be raising cash through a share placement to fund expansion of its cheese production facility to meet increased demand.

(Reporting by Rahul B in Bengaluru; Editing by Sunil Nair)

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