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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Premier Foods Plc | PFD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 3.60 | 2.23% | 165.00 | 16:29:59 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 162.00 | 162.00 | 166.60 | 165.00 | 161.40 |
| Industry Sector |
|---|
| FOOD PRODUCERS |
| Top Posts |
|---|
Posted at 24/7/2023 08:21 by 18bt Interactive: Easing inflation a boon to Premier FoodsMr Kipling-owner Premier Foods (PFG) should benefit from a cooling in inflation that will prevent the need for further price hikes, says Interactive Investor. The Citywire Elite Companies AAA-rated business reported first-quarter sales up 21% and said it expects full-year profit to come in at the top end of market expectations. It also cheered investors with news that the recent period of input cost inflation is past its peak and no further price rises are planned for the rest of the year. ‘The company behind Mr Kipling cake and Oxo cubes has enjoyed strong sales thanks to the resilience of its product offering,’ said analyst Victoria Scholar. ‘Its well-known, well-loved brands in the consumer staples category have enjoyed strong sales despite price increases and the cost-of-living crisis.’ Scholar said its brand investment and product innovation have supported demand and allowed it to forecast ‘strong full-year performance’. ‘With inflationary pressures starting to cool, pressure on margins is easing, allowing the company to refrain from further price hikes, which should help support demand,’ she said. |
Posted at 19/11/2021 23:01 by isis That's the markets for ya. ;)Premier Foods suffered a mini sell-off this week as it reported an inevitable decline in sales and profits. As consumers returned to out-of-home eating, the business came up against last year’s Covid-elevated figures. Shares slumped 5.8% to 107.6p as markets opened on Tuesday morning but recovered to 111p by the end of the day. The stock had fallen further to 106.6p by Thursday lunchtime. Revenues dipped 6.5% to £394.1m in the six months to 2 October, while trading profits fell 12.2% to £57.8m. However, the top line was up 7.5% on a two-year basis, with profits up by 13.1%. Sales in the second quarter actually increased 0.4% year on year, lifted by a 2.1% rise in branded sales as the likes of Bisto, Oxo, Sharwood’s, Angel Delight and Paxo all performed strongly. Analysts struggled to rationalise investor sentiment given Premier beat broker expectations and its own guidance. Martin Deboo of Jefferies pointed to some caution in the second half to reflect industry-wide logistics issues and input cost recovery uncertainties. But this didn’t feel like a moment to be incautious around the food industry outlook this winter, he said. “Underlying growth rates remain robust and improved a tad at Q2, with Premier outperforming the wider UK grocery market in their second quarter.” Charles Hall of Peel Hunt added: “The shares continue to look excellent value to us given the strong underlying revenue and margin performance, combined with healthy cash generation.” Clive Black at Shore Capital called the results “very reassuring”. He said: “Ahead of the important Q3 trading period, when we expect many households to have a good Christmas celebration, we are pleased in the face of recent supply chain issues to be holding our FY22 forecasts with a little beat to H1 sales expectations in tow.” Black added that as Premier’s self-improvement continued, the stock remained “just too lowly rated compared to its peers”. CEO Alex Whitehouse has presided over a stellar recovery in value for the group, with shares rocketing from a low of 19.7p in early March 2020, just before the pandemic saw its fortunes turnaround as households – and supermarket partners – turned to the reliable stable of trusted brands from Bisto and Oxo to Ambrosia and Mr Kipling to keep cupboards stocked during lockdown. However, it would be unfair to give all the credit for the turnaround to Covid demand, with Whitehouse reviving stale brands and investing in marketing once more. Elsewhere, shares in McColl’s collapsed by almost 30% to lows of 13p on Wednesday after issuing a profits warning as it struggled to source high-margin branded impulse lines like snacks, beer and wine amid supply chain chaos. |
Posted at 20/8/2021 14:37 by shaf200 With this urge from foreign investors to take over uk companies... every possibility we might get people sniffing around premier |
Posted at 18/2/2021 08:04 by shanklin Just re-listening to |
Posted at 19/1/2021 16:29 by geckotheglorious "Well done to all the long term holders still here"One of the best-performing stocks of the pandemic revealed more “exceptional&# The home cooking trends caused by recent lockdowns, and the ongoing closure of pubs and restaurants, have created the perfect environment for Premier. That’s led to further City profit upgrades after the company said sales grew 9% in the quarter to Boxing Day. Once trading conditions start to normalise, the pandemic's impact should still be felt, however, as stronger cash flows have enabled Premier to retire expensive debt and boost investment, including a plan revealed today for selling Mr Kipling cakes in the United States. And with more people expected to continue working from home, the longer-term demand outlook for Premier's wide-ranging portfolio remains promising. Jefferies analyst Martin Deboo said: “Premier is clearly enjoying a good war. However, this is more than just a bubble economy. Today's quarterly sales growth figure was significantly ahead of Deboo's 5.2% estimate, driven by momentum in UK groceries and a better-than-expected result in the branded cakes division. Trading profits are now expected to be between £145 million and £150 million in the year to March, compared with Deboo's initial forecast of £144.8 million. He added: “Sustained improvement in household penetration, market share and brand investment, which is collectively delivering both growth and debt reduction, is laying the foundations of a better and more conventionally-finan Premier shares recently broke above the 100p level, having languished in a zombie-like state below 50p for the period between 2016 and 2019 due to high levels of indebtedness. The share price rose 165% in 2020 and is currently up 390% since the market low in March. Underneath that balance sheet millstone, however, analysts believed a strong business was seeking to show its true value. That's been unlocked by chief executive Alex Whitehouse, although he owes some of the recent success to initiatives prior to his appointment in August 2019, such as the rebranding of the Mr Kipling cakes business. Just as important as the trading improvement has been a landmark agreement with trustees for the merger of three pension funds, resulting in a substantially improved funding situation. Profit-taking by investors today saw shares fall back 4.4p to 103.6p, even though Whitehouse said the third quarter had been “another period of exceptional growth”. He added: “Looking to the remainder of the (financial) year, out of home eating is likely to remain heavily restricted and we therefore expect to see continued high levels of consumer demand for our products.” Peel Hunt recently named Premier as one of its 31 value stocks for 2021, even though it rose by 165% in the previous year. The broker today increased its price target by 5p to 130p and also upgraded its 2021 profits estimate by 5% to £105 million. Analyst Charles Hall added: “The renewed lockdown is likely to extend the positive performance in the short-term, but we see potential for some of the themes to be longer lasting, with more people working from home, an increase in cooking from scratch, greater online penetration and a strong base for growing international.” |
Posted at 19/1/2021 15:56 by shanklin Obviously the debt on the 5%+LIBOR floating note will be down to £50m shortly, and there looks to be every possibility that it will be paid off by circa by the middle of 2021.The Q&A on threw up one interesting point on the potential for re-financing their other debt note, the October 2023 £300m fixed rate note which has a coupon of 6.25%. The CFO stated that with their debt much reduced this now looks a full rate, a point which has been made on previous calls. He pointed out that there is a penalty for redeeming the note early but this penalty halves from the middle of 2021. So, from that time, they will be looking to refinance the debt. I have no idea of the associtaed penalty or of what interest rate they might expect to achieve given the ongoing drop in net debt/EBITDA. Thoughts welcome. |
Posted at 04/12/2020 09:38 by lammylover Q3 results due out on the 19th January.Share price is primed to move up back to 110p (year high price following HY results to end Sept) We know that the winter months are always PFDs best due to the product mix, seasonal mince pies etc. This year will be best ever with the lockdown in November / December and people still working from home; pubs / restaurants locked etc. A strong buy currently at 88p for 25% upside for swing traders to 110p or more likely 35% upside for investors looking for 120p+ as debt is further reduced and profit margins improve. Good luck all holders! |
Posted at 25/8/2020 09:30 by hodhasharon Institutions are selling heavily into any strength. Look at the distribution-zone in the candlestick chart. See how the moves down are really abrupt, and the moves up are a slow drifting motion.Institution offloads in high volume - abrupt movement. Retail investors buy - slow drift upwards. Institution offloads into the strength. The cycle continues until they're done. They we move down. Retail investors panic and sell, adding to the weakness. 60p target (September 2020). |
Posted at 21/8/2020 14:23 by hodhasharon There's institutional selling into strength at these levels (look at the tight spread and supply volume into the dips in the flag, followed by weak recovery). If I was a Private Investor I'd be cashing in now and putting a buy order in for 60p. |
Posted at 26/5/2020 10:24 by ali47fish but WJA normally issues an agm statement due tomorrow- what investors here are expecting-recent news are good from memory |
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