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I feel all the stars are aligned on this one . Have taken plenty of profit with PFD but its the gift that keeps on giving this year
Still can't keep your eggs all in 1 basket & LLOY & RBS sorry NWG in the last 3wks has done me proud as well especially NWG.
I hate saying it but I have had a great pandemic. Looking forward to more details on hovis sale & next weeks update perhaps they are holding back full hovis news to give report extra oomph !
I know that the hovis sale appears to be a steal, but its cash in the bank. I dont.claim to understand the debt to profit / value of the business calculation, only that PFD have said it needed to be under 3. 5 ish and its been quoted as 2.4 or lower. Profits will be up, and will continue to be up for a while to come. Happy again to pay a chunk if expensive debt off and see the share price rise. Dividend will do the same, but surprisingly enqough, i think i would rather have the debt paid off. How good is this share at the moment !!!! Looking forward to Mo days clise , 1.10 maybe, i like to predict it. Tuesday ....who knows.
There's unlikely to be a dividend until the pension deficit gets sorted out. Currently the pension fund can claim half of any dividend paid iirc.
3 Card.....that’s a great idea !
I go back to the days when they paid a very generous dividend. Just after the IPO
Dogger re a bid.
Do you mind if we have a couple of dividends first please?
Electric
I am sure that we will get the interims next Tuesday. If they were going to delay, they would have said so by now. I am expecting a decent set of results given the big sales boost caused by lockdowns.
I would be surprised by a bid by ABF. Not only have they got their hands full with Primark, but up until today the competition guys would have had something to say because of premiers part ownership of Hovis and ABF’s ownership of Kingsmill
The perceived wisdom has always been that potential suitors have been put off by the high debt level and the pension deficit. However because both of those problems are well on the way to being solved.....who knows.....maybe a bid ?
Not delayed. Sorry.
I don't understand whats not to like, let's just hope the results are delayed like last time, was expecting ABF or another big Brand to buy it by now, any thoughts. I very been buying since March.
The market clearly loves this share at the minute. I hope we get real fireworks on Tuesday. Lockdowns and staying in over the winter is only going to make things better! I can see this at 150p by the final results just based on PER alone.
It may not have been quite the result we wanted but it's still a positive. Mass market bread is a shrinking industry with tiny margins, and the priority for PFD is to sort out the debt & pension, which this will go towards.
Don't forget that Gores sold off Manchester and Selby mills to Whitworths and Southampton to British ports (that must have been a valuable piece of real estate) after they were bought from PFD.
"Can we hit £1 billon on Tuesday" not with the useless management who just gave away 49% of hovis for peanuts.
I think that the loans were made to Hovis by Premier, not the other way around. I had expected our share to be around £50m plus loans payed back by Hovis.
I have written to Richard Godden asking for more explanation of the £37m.
Maybe we will get some more clarity on Tuesday......but I guess at the end of the day £37m is better than nowt.
Can we hit £1 billon on Tuesday
It's the first of the three published this morning that are on this site. (Starcast at 7.45am)
which articles that?
Sorry, the article indicates a sale of £163.37m
On the attached "PFD share news", it is stated that "Premier Foods has sold its 49% stake in bread maker Hovis to UK private equity firm Endless, with proceeds of £37m to be used to strengthen the balance sheet.
Did we not expect a sale of £150m ??
I'm quite liking our latest team, slowly slowly things seem to be going well. Glad I stayed in.
I agree shocking RNS as this just causes people to speculate. But Italians pulled out & I guess as bid exceeded their £100 mill limit. Perhaps we should start a sweep on final sale price !
Personally bread sales are just buoyant due to lockdown & when/if things return back to normal bread sales will steady in fact i believe more people are slowly moving away from mass produced bread & suggest sales may have peaked & will probably decline over the next few years.
No I think it means the £37m is after we / pfd have paid back any loans / debts we had outstanding, so it might have been £45m each approx and then £37m net for pfd after we paid back / off what we owed.
The Gore Group weren't big on investing into the mills/bakeries when I worked on the Milling side. This slightly lower than expected figure may be a reflection on this and the bakeries 'general health'. Bearing in mind what's already been posted re a net figure of 'loan notes/interest'.
Yes I thinbk we were all expecting more like £50m , but it's another rns from pfd that's is very short on info.
It would be nice to be told just how much hovis was bought for and how much interest / loans had to be paid out. but I guess £37m is a nice lump of free cash.
It’s the amount we get after the loans and interest hovis had have been repaid. That’s how I read it anyway. Another nice chunk off our debt though if that’s what they use it for.
Were we not hoping for a tad more than that ?