Dairy Crest surged 23.6 to 372.6p after Germany's Theo Mueller Group, which makes M�ller yoghurts, said it had acquired a 3pc stake in the London-listed company. The move triggered speculation the secretive German dairy giant may be lining up a bid for Dairy Crest.

Damian McNeela, an analyst at Panmure Gordon, told Bloomberg: "This indicates that Mueller may make a formal offer for Dairy Crest � they might be looking to widen their product base in the UK".

http://www.telegraph.co.uk/finance/markets/marketreport/8033253/Vedanta-Resources-hit-by-Indian-copper-mine-closure.html

Final results for year ended 31 March 2014

Financial Highlights
· Adjusted profit before tax up 31% to £65.3 million, including higher profits from sale of surplus properties
· Year end net debt at £142 million leaves net debt to EBITDA within targeted range at 1.3 x
· Proposed final dividend payment of 15.4p taking full year to 21.3p, up 3%

Strategic Highlights
· Reorganised into one business structure
· Demineralised whey project on track to enhance annual profits by £5 million from 2015/16 - in exclusive talks with one customer
· Move to a single spreads manufacturing facility nearing completion
· Reduced cash contribution to defined benefit pension scheme from 2014/15

Operating Highlights
· Ongoing growth for Cathedral City ahead of market
· Continued focus on costs: £25 million annualised cost savings delivered in 2013/14, with a further £20 million identified for 2014/15
· Strong Corporate Responsibility commitment: highest UK ranked business by BITC

May 22 (Reuters) - Dairy Crest Group Plc DCG.L , Britain's largest dairy company, reported a 31 percent rise in full-year pretax profit, helped by the sale of a property in London. The company, whose brands include Country Life, Clover and flavoured milk drink Frijj, said its adjusted pretax profit rose to 65.3 million pounds ($110.2 million) in the year ended March 31 from 49.7 million pounds a year earlier. ID:nRSV7562Ha Revenue rose 1 percent to 1.39 billion pounds. Analysts on average expected the company to report full-year pretax profit of 65.6 million pounds on revenue of 1.36 billion pounds, according to Thomson Reuters I/B/E/S. Dairy Crest sold its Nine Elms residential and middle-ground milk depot located in London to Battersea Project Phase 5 Residential Co Ltd for 17.6 million pounds in cash, generating a profit of 15 million pounds on the sale. The producer of Cathedral City cheese raised its final dividend to 15.4 pence per share from 15 pence a year earlier. Shares in the company were down 0.8 percent at 456.3 pence at 0711 GMT on Thursday on the London Stock Exchange.

Tempting - yield now @4.8% at the current price - although long(er) term chart not so good.

Had a small dabble @424.1!

Looks like you've caught the bottom Skinny. You holding for yield and did you buy as an equity?

S/B - they are on my scrap of paper for June dividend cover against FTSE short potential - just bought them sooner than planned - but won't hang around if they fall and obviously will take any reasonable gain.

The falls understandable, strip out the £15m they wouldn't have had from the property sale and its clear this is another premium brand losing ground to the discounters. Also Cathedral City I'm sure I've seen in Aldi at a far discount to Tesco/Sainsbury prices. Tells you something about supply/demand and consistant margins.

JP Morgan Cazenove Overweight 432.70 600.00 577.00 Reiterates

Investec Hold 438.70 525.00 434.00 Downgrades

I'll take jp morgans by 1st july .,.

Chart placed in header.

started moving in the right direction yesterday skinners ;)

I got limited out yesterday +20p from the 22nd - looks to be too soon!1

very surprised you set that so low with a month to go before div date.,.

The limit was based on daily S/R and it moved before I had time to amend - it happens.

For interest, today's is 460.56p and optimistically 464.08p

With the chart looking as it does I'm sticking to it till it reaches a peak on the macd.,.

I did the same with MAB yesterday - day trade +15 and its well up again today - its easy!!!

;)

looking at the MAB chart you were lucky to hit that spot on.,.

Lucky!!

464p