Error 500 - Call to undefined method CRM_Contact_Import_Parser::formatCustomDate

When performing a Contact import for a CSV which has a date field mapped to import to a custom date field, the following error is thrown and causes CiviCRM to white screen - error 500.

PHP Fatal error:  Call to undefined method CRM_Contact_Import_Parser::formatCustomDate() in /home/www/public_html/sites/all/modules/civicrm/CRM/Contact/Import/Parser.php on line 847, referer: https://website.domain.com/civicrm/import/contact?_qf_Preview_display=true&qfKey=o83u4ruekruhvwk7hv37i3434

Steps to reproduce:

1. Create custom data, date field for contact
2. Create CSV file with data: first name, last name and date value (dd/mm/yyyy)
3. Perform import
4. Error 500

Agileware Ref SUP-2637, CIVICRM-542