Arla has hailed a slight increase in revenue for the first half of 2019 a period of “rare stability” in the volatile global dairy market.

Total revenue grew 2% to £4.7 billion compared to £4.6 billion for the same period in 2018. This growth was driven by higher strategic branded sales volumes of 4.6% and an increase in sales prices, the company said.

The company, which has its UK head office in Leeds, delivered a net profit share of 2.3%, up from last half year’s profit share of 2.2%.

“The rare stability in the global dairy market has allowed Arla to build on the momentum we created in 2018,” said Arla Foods CEO Peder Tborgh.

“We have strengthened our competitiveness relative to our peers and improved our profitability while launching our ambitious climate goal to become carbon net zero by 2050.

“We are focused on delivering on our ambitious targets for 2019 while remaining alert and prepared for the continued uncertainties around Brexit.”