Cathedral City owner Dairy Crest is to tap investors

for £70million to expand its cheese making operation. The cash will be used to ramp up production from 54,000 tonnes per year to 77,000 tonnes to meet soaring demand. The money will go towards increasing capacity at its factory in Davidstow, Cornwall. The news came as Dairy Crest reported annual profits had jumped from £40.3m to £179.2m.