Dutch dairy giant Friesland Campina has defied falling demand for dairy to post a 35% upturn in profits.

Annual results for 2009 show profits at the Yazoo supplier rose from 135m to 182m, with global branded growth credited with driving the increase. Revenue, however, fell 14% from 9.5bn to 8.2bn, and the milk price paid to members fell sharply.

The company grew its market share in a number of markets, expanding its customer base, said CEO Cees 't Hart. "However, the poor selling prices of such products as milk powder, casein and basic cheese put the result under pressure."