Highlights
Transformational sale of Dairies operations will complete on 26 December 2015
Strong first half performance from Cathedral City (sales +7%) and Frylight (sales +37%)
Overall sales of four key brands in line with last year despite deflationary environment
Commence sales of demineralised whey and galacto-oligosaccharide in H2
Strong cash generation - reported net debt has now peaked as cash drain of Dairies ends and future capital expenditure in ongoing business reduces significantly
Refinancing completed - new £240 million revolving credit facility in place
Interim dividend up 2%
Full year expectations for continuing business unchanged
