The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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So let's now also see some / most directors buying shares with their own money and showing more faith in pfd, and NOT more free shares for doing what they get paid to do.
Trading to the end os Sept has seen debt reduction down to £403m from £492m
Cost savings programme to deliver ahead of £5m target
· Announced repayment in aggregate of £120m callable Floating rate notes in FY20/21 reducing interest costs by £6m p.a.
· Credit ratings upgrades received from both S&P and Moody's
· Hovis disposal completed 5 November, raising proceeds of £37.3mSo net debt should come down another £37m or so from Hovis plus maybe another £60m-£80m from trading
Trading profit for the full year will be ahead of current market expectations. Additionally, following both our recent progress in accelerating leverage reduction along with proceeds received from the Hovis transaction, we are today announcing a new medium-term target for Net debt/EBITDA of approximately 1.5x."
So for a change everything is looking more positive, and NOW maybe is the time for a takeover move by someone.?
Now let's see some up-dated broker prices of £1.20--£1.50
C'mon! - Its not going to "drift back to where it came from i.e. 18p" at the depths of the CV19 share crash madness!
H1 results out today to end Sept, were excellent even if Q2 growth in revenue was not as significant as Q1.
The BOD have made clear that H2 will be tougher, especially if more people return to work; however with November being a lockdown month and winter being the best half of the year for most of PFDs products, we should be in for great results for Y/End IMO.
The medium term target for debt to be reduced further, is the game changer here.
I have confidence in the current team to deliver and for the share price to be re-rated upwards accordingly.
Rich
Stock markets are forward looking. With vaccine in sight, cyclicals will gain steam and this will drift back down to where it came from I suspect. That is why I have been buying banks and big oil over the last few months. Gutted I didnt go in heavier on travel, but wasnt sure the likes of TUI and EZJ would survive without vaccine.
I have read almost all news of PFD results on various websites, not a single negative, so profit taking it has to be, then upward movements only please.
I would like to say this, am pretty sure others may agree, buying was the easy bit, especially at 25p where I bought loads more, but selling is the most difficult decision of all!
Profit taking and then a sheer panic I suspect. This has risen so much from a drop to 22p in March. Ive been advising friends and family over the last 6 months to jump on board and they have done and they have all held and we expect this to continue north again. As new investors climb on board.... Onwards and upwards....Its the best time of year to be in PFD, roll out the mince pies...
So as asked by fellow holders , what caused the drop ? Everything is going in right direction , what we need is Covid vaccine on a Mr Kipling fondant fancy cake , like polio vaccine on a sugar lump when we were kids !
So good I bought another 10k at 97p to find they have gone down to 90p Oh my god what's gone on there.
It must be profit taking or was it something that has been said by the board and I missed it. With what they have planned this should be £1.20- £1.50 in the next 3 months after all those mince pies etc.
Smart. Am assuming it's profit taking based on a meteoric rise in recent months smaller hovis proceeds, no divvy and another 6 months before any more news.
Furious with myself, was going to cash out at the top but missed it and had other things to do. Was hoping would come back up but shocked to see the size of the drop.
Yes it’s typical ! Talk about timing!
Premier is viewed as a covid stock,
( stay at home ) stock market is forward looking , the vaccine news has conversely boosted the non covids , my BP shares and Mars are up !
But Pfd will come good surely ?
I thought the results could not have been any better! Does anyone understand why the SP went up and then plummeted?
Yes, so do I......but not a day I want to see again in a while. Hope for better tomorrow
Can only assume profit taking, for a holder it was awful to watch! I do think it will push upwards with time.
Is going on ?
Im out cheers chaps got my sell in early this morning good luck all I a sure this will steam upwards slowly but surely
Net Debt /EBIBDA target of 1.5x is now getting us somewhere. Not sure who spread the rumour thar Hovis could be worth £100m , but clearly an uneducated guess ! Overall a good set of results, will continue to sit on hands.
Premier Foods raised its full-year trading profit
outlook and said it expects higher demand for its brands due to
the recent government restrictions on eating out.
Amazing set of results.
Its says
'Hovis disposal completed 5 November, raising proceeds of £37.3m'
Apart from the Hovis debacle
For our share of the Hovis equity.....that’s outrageous.
Does that mean Gores only got the same for their share ? They must have made a loss on the deal.
What happened to the “ £100m bidding war” !!
Cruisers.... about 70 million in the US who dont wear masks and voted for trump. Cruise bookings are higher than last year, just not sailing. Ships are more profitable as they have scrapped the old ones. Anyway, kipling sales is what i need to know.
Was expecting more buys after closing, any thoughts?
Let's hope that the markets keep up with the positive news this week, I hope a Brexit deal by Thursday. Would like to see 20% rise tomorrow!!
So CCL went.up by 37 % today HSBC over 10% , both i have shares in, but im expecting good news tomorrow and im not selling all yet. Regardless of a covid vaccine, this company is going from strength to strength. Didnt buy VMUK and they went up 12% , gutted, but love this company
Try LGEN
Superb divi and still well below their pre covid peak.