Premier Foods Share Discussion Threads

[geckotheglorious] 13/8/2021 12:26

Pretty small beer really...
One seems to bed and breakfasting selling,then buying more or less similar amount.
The other is for 1148 shares!
Last of the big spenders!:)

[ali47fish] 13/8/2021 11:41

directors buying

[18bt] 23/7/2021 06:53

Looks like PTP around £116-120m, so EPS c11p. PER still under 10x and prospective dividend yield of 1.3%, with scope to grow that pretty strongly or to make further acqusitions.

[vic_frost] 23/7/2021 06:13

Very positive update today ? the long road to recovery continues

[vic_frost] 23/7/2021 06:12

Very positive update today ... the ping road to recovery continues

[18bt] 28/6/2021 11:43

Interestingly, PFD appeared in a stockbroker note last week as a possible PE-backed takeover candidate according to the press. If that's the case, they really should have moved earlier and refinanced all the debt at the same time and they would have made a lot. But that's not to say it might still not be in the sightlines of PE - free cashflow is forecast to rise from c£50m a year to £81m between 2022-24. PE houses traditionally don't like DB pension schemes, but that is very close to being de-risked. So I don't see an offer at 140p+ being out of the question.

[davebowler] 30/5/2021 10:36

hTTps://www.fool.co.uk/investing/2021/05/29/top-uk-stocks-june-2021/

[18bt] 27/5/2021 11:51

2022 consensus PTP and EPS estimates have now risen - up to £108 and 10.2p respectively.

[s34icknote] 26/5/2021 12:28

Bought in at 111p17 p would have been better !But looks good for re rate

[clanger66] 24/5/2021 09:07

Jefferies have raised price target to 130p from 110p. Rate a Buy.

[18bt] 24/5/2021 06:43

That's a decent increase on the old forecast of £102.3m for 2022. Should take EPS close to 10p. Corresponding increases in cashflow so net debt down still further.

[redalert] 21/5/2021 13:53

bond pricing will give 8m saving so pfd have upgraded their profit forecast

[18bt] 20/5/2021 09:55

EC - agreed - should have given a bit of thought before drafting!

[effortless cool] 20/5/2021 09:48

18BT, Investment grade bonds are BBB and above, so BB- is below investment grade ("speculative").

[18bt] 20/5/2021 09:31

That sounds about the right interest rate B1/BB- is a notch above investment grade but still feels as they are paying a slight premium for their history. But it's a big saving in cash terms. It sounds like they will issue guidance once the terms are set.

Interestingly, the bond plus the RCF gives them quite a bit of leeway for add-on acquisitions.

[shanklin] 20/5/2021 08:54

More news on the £300m bond refinancing shortly but suggestion in this article is that interest rate may become circa 3.75% compared with the current 6.25%

[18bt] 19/5/2021 17:25

No it doesn't it tells you one scheme is in a bigger surplus than the other scheme which is in deficit - until they merge them, they can't offset one agains the other. On the analysts call hey reckon the DCF of the £47m pa committed is £300-320m. When they merge them the contributions could reduce.

[eezymunny] 19/5/2021 16:06

There are several ways to measure pension
liabilities!

£47m contributions says the surplus isn't real...!

[pdosullivan] 19/5/2021 14:47

There are several pension schemes.

[18bt] 19/5/2021 14:46

Apples and pears - surplus and contributions

[eezymunny] 19/5/2021 11:16

"pension surplus"

Hmmm £47m in contributions!

[cappajumping] 19/5/2021 10:07

So pension surplus, EPS strong growth, lower debt, cash inflows, growth in EBITDA, dividend reinstatement, international growth and strong start to new trading year, sets the scene for a run-up towards £1.30.

[18bt] 19/5/2021 09:33

Great set of resultsquite a beat on PTP and speed and amount of dividend reinstatement. They are saying they will confirm forecasts following bond refi. Need to study the pension piece a little more to understand. Will listen to analysts meeting recording later when available.

I seem to remember someone saying these should be 50p only a month or two ago.

[cravencottage] 19/5/2021 06:23

Dividend re-instatement after 13 years...Wow..

Hopefully giving share price some nice traction..

;-)