Dairy Crest Share Discussion Threads

[muffinhead] 02/12/2008 12:06

Don't like the way these go down with market and then don't recover when market goes up. New low today. Euro debt facility is a major worry as £ gets hammered on forex. Am expecting a trading update to hammer these at some stage

[wendsworth] 01/12/2008 15:22

Waiting and watching.....Looking even more interesting!

[wendsworth] 25/11/2008 08:31

Boffster: Yes.Around current levels. Interim dividend still available. Interesting.

[boffster] 19/11/2008 12:23

Theres the director buys. About time!

[boffster] 18/11/2008 10:20

Assuming dividend maintained, yielding a rather healthy 12.5% at this price.

[muffinhead] 17/11/2008 19:14

I'm not putting all my milk bottles out yet. The interim dividend may be tempting at 150p

[muffinhead] 12/11/2008 23:03

Sterling dropped 2.7% against Euro today

The Euro borrowing is going to hurt the bottom line further


From interim results
"Gross finance costs of £14.3 million were up 10% on the comparable period last year. This principally reflects higher costs of borrowing
and the impact of weaker Sterling on our Euro-denominated interest costs"

[un morceau de merde] 12/11/2008 20:21

Looks incredibly cheap to me. Expect to see some director buying

[wendsworth] 11/11/2008 13:13

Downgrades from:- Citi : 330 to 250P and UBS : 425 TO 250P .

[wendsworth] 11/11/2008 12:58

boffster;GOOD BUYING OPPORTUNITY?

[boffster] 11/11/2008 10:25

Do you not think that a pretty safe looking 10% dividend yield will underpin the share price

[bullet8] 10/11/2008 10:35

sell,will drop further.

[boffster] 10/11/2008 09:47

Looks a bit of an overreaction to me.

[wendsworth] 20/10/2008 09:34

Interims 30/11/08 . With oil price halving ...could be better than anticipated ????????

[muffinhead] 22/7/2008 23:03

Won't have to worry about energy/commodity prices for much longer.

If we can't afford 'em the developing world can't either...demand down, prices down.

[rathkum] 22/7/2008 00:06

This from a Canadian Investment Housr

Posted: July 21, 2008, 4:30 PM by David Pett
Managers: Gerald Cooper-Key & David Ragan, Mawer Investment Management
Style: GARP (growth at a reasonable price
)
Fund: Mawer World Investment

Strategy: Systematically and prudently build a portfolio of world class companies emphasizing wealth creating companies

Gerald Cooper-Key

Buy recommendations:

Dairy Crest Group PLC
Sasol Ltd.
Samsung Electronics Co Ltd.

Commentary:

"Dairy Crest is a UK company that manufactures and distributes dairy products. Specifically the group focuses on spreads, cheeses and milk. It has three distinct levels of customers: the large supermarkets, the mid-market users and the retail customer. Dairy Crest is currently favoured as it is relatively immune to the current credit crisis, the US consumer problems or the more broadly based concerns about general economic weakness. Yet it is not without risk, the likeliest of which is being squeezed between input costs from the dairy producers (farmers) and the end users, particularly the super-markets. However, we believe these risks are more than compensated for in the price of the stock that has retreated to such a level as to provide a high yield, low multiple and attractive free cash flow.

[rathkum] 21/7/2008 00:44

The Investment Column: Dairy Crest is crème de la crème of defensive picks.

By Alistair Dawber
Friday, 18 July 2008

Our view: Buy

Share price: 391p (+35.25p)

When things start to get a little painful, there is a lot to be said for getting back to basics. Assuming that investors have to put their money somewhere, they should ideally be looking for a cash-generative company that operates in a defensive sector where it is able to pass on higher input costs. If the company is under-valued too, bingo.

Dairy Crest, the makers of Cathedral City and Utterly Butterly, updated the market yesterday, saying that sales in the three months to 30 June were up an impressive 14 per cent and that management's expectations were being hit.

Its chief executive, Mark Allen, says the strong performance is largely down to the fact that, in times of economic woe, the group is a defensive pick, being a producer of simple, traditional foods that consumers are likely to revert to. Mr Allen argues that costs are under control and while the company is managing to pass on a reasonable amount of inflated prices to customers, he says the group is careful not to make its products too expensive.

What is even better for potential investors is that the group is undervalued. Mr Allen reckons that Dairy Crest's share price – down nearly 50 per cent over the last 12 months – has suffered in a general selling-off of mid-cap assets. Experts at Panmure Gordon say that "the shares continue to look very appealing and cheap in our view on a current year [price-earnings ratio] of 6 times – at odds with the group's highly branded and added-value portfolio and also support a highly secure dividend yield in excess of 7 per cent".

There are concerns over the company's debt but at £475m it is perfectly manageable, says Mr Allen. The market seemed to agree yesterday, with the stock climbing 10 per cent. Buy.

[watwungyi] 17/7/2008 14:14

every single share i own is up. time to get into pennon.

[muffinhead] 17/7/2008 09:19

Well thats enough excitement for today

[watwungyi] 17/7/2008 08:39

What a fantastic run!

[rathkum] 16/7/2008 23:14

I believe it is an AGM tomorrow?