Grease a baking sheet and dust with a little flour. Put the flour, salt, sugar and yeast in a bowl. Add the butter in flakes and work under the flour mixture with your fingertips, small crumbs should form.
Gradually pour in the milk and 300 ml of lukewarm water and work everything into a dough. Knead the dough on a floured work surface for approx. 10 minutes until it is elastic.
Shape the dough into a roll with a length of 50 cm and place it in a ring on the baking sheet. Press the ends firmly in place. Cover with a kitchen towel and let rise to double volume in a warm place for 1 hour.
Preheat the oven to 250 ° C. Bake the bread ring in the oven for 25-30 minutes. It should sound hollow when tapped. Let cool down. Butter and cheese also taste good.