Dairycrest shares slump after Tesco contract loss

Shares in Dairy Crest crumbled 18% today after the loss of a major contract with supermarket giant Tesco left investors crying over spilt milk.

The UK’s biggest retail chain has reduced its number of milk suppliers down to just Arla and Robert Wiseman, and left Surrey-based Dairy Crest to contemplate a potential hit to annual profits of up to £15m (€22.3m).