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I have been wrong before but……I don’t see Nissin making a bid. I just think they are making sure that no one else does.
Very interesting, but as recently mentioned, it is all very amicable.Maybe some value for a TO, simply this business has restructured, performs well, is well run, getting ready to be a big player again, as demonstrated with this weeks purchase.
I would want plenty of renumeration if I was on the board and had gone through the last 2.5 years.
I'm hoping it doesn't happen, but if it does then that's life.
So Nissin foods now hold 24% , getting closer to that magic number of a complete takeover , what do you think £1.50+
Takeover target - Very Unlikely with:
Nissin Foods Holdings Co.,Ltd. 198,036,846 22.9%
Don't know how many other friendly shareholders aligned with Nissin.
What we also don't know is how much of debt is in the form of loan notes aligned with Nissin and friendly shareholders!!
I regularly see Lloyd Grossman on special offer in my local supermarket at €2 a jar. Down from €3.50. I would assume that there is a great profit in producing any type of sauce. I my local Aldi today I see you can purchase lots of their version of sauces at less than a €1 a jar. Does Premier foods make similar sauces for Aldi/Lidl/Tesco under another name? Premier Foods have a great stable of our old favourites......We would have them in kitchen press all the time. I cannot understand why this share is not doing better.....it must be a takeover target?
All looking very encouraging really, I mentioned a while back that this is looking more solid as the impending economic storm passes through. As thought, share price has dropped a bit, but stabilised, simply think we must head through to a sustained 125p for the next step and more SP growth. I don't mind when I am in for the medium time at least.
Assuming we’ll have to pay Anjum an annual fee, like I think we do with Loyd, for continuing to use her image/name / etc - I guess it isn’t really a brand without her (like Grossman)
This is a great addition. Has huge potential with the Marketing that PFD can deliver….previously thought it was an Oz Brand as already doing well there & where I last tasted it. Move over Grossman !
Think we had this for tea on Saturday (from Tesco) very tasty!!!!!!!!!!!
Never heard of this Brand, anyone know anything about it
We are back on the acquisition trail……The spice Tailor.
Sounds like a good fit for PFD
No startling revelations.
Interesting question about the lack of share ownership by some of the non-exec directors. They brushed it off by saying that they were trying to ensure their independence.
Another interesting question about why they are trying to sell cake to the yanks when they have already eaten too much cake of their own. Answered quite neatly by the CEO.
A fair amount of congratulations to the board for bailing out the company.
Hi dogger, yes very true but this is what happens when we get high inflation and people run short of money and start to trade down, but at least PFD are still getting the sales and although profit margins are lower there could be higher sales to help off-set lost higher profit . Good start though.
Note big increases in non branded. If that rate continues at the expense of branded it will affect the bottom line.
Hopefully it is. PF reported some weeks back about benefiting from more home cooking as inflation increases, guess this will only increase further. Also some new product development lately eg Ambrosia entering the breakfast market with 'ready to eat oats'. Big challenge will be cost control/pricing. Wheat has taken a hit with Ukraine being the 'bread basket' of Europe and currently the wheat is stuck in Ukraine. Also, with recent hot weather yield for the UK/Europe will be compromised increasing prices further. If Ukraine/Russia can agree to get the wheat out for export then that news would be positively received in the world market pricing. Please report only good news Dogger!
I wonder if it’s in anticipation of a good trading update tomorrow.
I am attending the AGM online so I will report any news.
AGM and trading update on Wednesday
Well something must be coming down the line with another 3p drop today, so I just added a few more hoping it will go back to £1.15 soon.
Just wonder if the drop is due to the lost appeal against the NHFSS law coming in to effect?
And maybe even just a e-learning/box ticking exercise
Pleased to hear that…..I hope you are right.
This won't add much to the costs just one or two extra salaries plus expenses going round the various sites where only the people who can be spared (office workers maintenance cleaners etc ) will be attending the courses no production will be lost and they can catch up on their work later I've seen many of this type of initiatives none of which had a lasting effect on production and thence profits etc.
Dogger, Many thanks indeed for that info.
Theleather1 and Billyn
I really don’t know which own label products PFD currently make. Almost certainly JS and Tesco own label cakes but I am out of touch with the detail these days.
The own label recipes were always different to the branded products and dictated by the customer themselves. Tesco own label recipe would be different to JS etc.
I was involved in the canning business before it was sold to Princes and I remember we used to make Tesco value baked beans…..they didn’t contain that many beans !!
The SP is very difficult to predict……I have been hopeful for a takeover but it is a long time coming. Remember Nissin have just increased their stake by 3% after buying oasis’s stake. They would obviously need to agree to any takeover attempt, so I guess that makes it more unlikely.
Also the government isn’t keen on American takeovers of Uk food manufacturers so I reckon the bid would have to either come from Japan or a Uk venture capitalist looking at a break up.
I sold half my shares a few days ago and can’t decide whether to buy them back for the divi. Ex divi date next week.
Without a takeover I can see the drifting further down. Not below £1 though. I guess buyers are not particularly attracted by a 1% divi ?
Hi Dogger, which products did (maybe still do) PF make own label equivalents? Pretty sure not cooking sauces, eg Sharwoods, Grossman, but I have no idea re Kipling, ambrosia etc.