Blog: Dean BestDon't milk Dairy Crest share fall

Dean Best | 13 November 2009

Prepare for three quick-fire UK-focused blogs:

First, Dairy Crest, the UK's largest dairy group and the company behind Cathedral City cheese and Country Life butter (the spread pushed by Sex Pistols frontman Johnny Rotten).

The company's shares curdled yesterday (12 November) despite a jump in half-year profits. The stock took a hit as the company announced it would slash its dividend - a decision it had already flagged to the market back in May.

So, it could be a little soon for the market to think the milk has turned sour at Dairy Crest. The company's cheese and spreads business is holding up well and, despite some weakness in dairy commodities and milk delivery, not all analysts are anxious about the company's performance to date.

"Overall, the group has produced a resilient result, with some modest half-on-half progress, despite the tough backdrop. We expect to see the same at the full year," insists Investec analyst Nicola Mallard.


BLOG

We wish you a merry Christmas

Today (23 December) is just-food's last day before closing for Christmas. We'll return, raring to go on Tuesday 3 January - but of course there's been plenty of top-notch content that has gone live in...

BLOG

UK food associations come together on Brexit

The plethora of food manufacturing associations in the UK has been argued by some to be an impediment to the industry coming to a coherent position on the aftermath of Brexit and on what the sector sh...

BLOG

Amazon cools talk of plans for wave of grocery stores

An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....

just-food homepage



Forgot your password?