Corporate Profile for Express Dairies, dated 07/22/02.Business Editors --(BUSINESS WIRE) The following Corporate Profile is available for inclusion in your files. News releases for this client are distributed by Business Wire and also become part of the leading databases and online services, including all of the leading Internet-based services. -0-
Published Date: 07/22/02
Company Name: Express Dairies plc
Address: Express House, Meridian Business Park, Meridian East
Leicester, LE6 0EW, UK
Main Telephone
Number: 0044 116 281 6281
Internet Home
Page Address
(URL) www.expressdairies.co.uk
Chief Executive
Officer: R C N Davidson
Chief Financial
Officer: P Whitfield
Investor Relations
Contact: U Ball
Business number: 0044 116 281 6273
E-mail address:
Public Relations
Contact: N Hedge
Business number: 0044 116 281 6259
E-mail address:
Industry: Food Processor
Trading Symbol/
Exchange: EXD.L London Stock Exchange
Market Makers: Market Makers: Abn Amro, Cazenove, Kleinwart,
Merrill Lynch, Knight, Atkien Cambell, West LB,
Winterflood, KBCS, Numis Company
Company description: Description: Express Dairies Express Dairies is a subidary of Dairy Crest that specialises almost only on home delivery. It was formed in the 1980s. During the late 1990s it was losing money and subsequently sold it's milk and delivery services to Dairy Crest in July 2006. occupies a key position within the UK dairy industry as one of the leading suppliers of liquid milk and cream with a market share of approximately 25%. The business is focused around two business units - Express Dairies Milk and Express Dairies Distribution. Express Dairies Milk is responsible for the buying, processing and sale of milk, cream and related products to our home delivery and retail customers. Express Dairies Distribution handles our milk distribution requirements, including the daily collection of raw milk from farms and the delivery of processed milk to around 1,350 individual supermarkets and over 100 urban delivery depots nationwide. Preliminary Results for the year ended 31 March 2002 as announced on 6 June June: see month. 2002 - Operating profit before goodwill amortisation and exceptional items pound sterling36.9 million (2001: pound sterling58.8m) - Underlying pre-tax profit pound sterling25.3 million (2001: pound sterling41.9 million)(a) - Adjusted earnings per share 5.8 pence (2001: 10.3 pence)* - Net debt reduced by pound sterling34.6 million to pound sterling168.8 million (2001: pound sterling203.4 million) - Licence application to Postcomm to deliver business mail to households - Further significant cost savings on track - The Board will review the reintroduction of dividend payments at the interims (a) Before exceptional items, goodwill amortisation Noun 1. amortisation - the reduction of the value of an asset by prorating its cost over a period of years amortization reduction, step-down, diminution, decrease - the act of decreasing or reducing something 2. and adjusted for discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: activities and minority interests. On 1 July 2002 a proposed strategic alliance with Milk Link including a new joint venture in added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
n. 1. A moderate but penetrating coldness. 2. A sensation of coldness, often accompanied by shivering and pallor of the skin. 3. dairy products dairy products dairy npl → produits laitier dairy products dairy npl → Milchprodukte pl, Molkereiprodukte pl , the production of fresh cream, milk balancing arrangements and the continued supply of raw milk, and UHT UHT ultra-heat-treated (milk or cream) UHT adj abbr (= ultra heat treated): UHT milk → leche f uperizada UHT adj abbr (= ultra-heat treated); products for the urban delivery network was announced. The proposed disposal of the UHT business of Express and Frome creamery creamery: see dairying. to Milk Link is for a gross consideration of approximately pound sterling33.1 million. Express will then immediately invest pound sterling2.6 million in the creation of the joint venture. This is a further step in the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of Express Dairies and supports its debt reduction programme. |
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