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Missed my chance to add to my position this morning if drops back I’ll add as the international business must be really starting to show good results.
Well It has done wonders with the sp!
Let’s hope it’s actually a start of a long overdue rerate!
GLA
Good news released early is to reassure
But reassure who ? Not the pi’s surely? hmm
Wasn’t expecting that but welcome news particularly as it signals input cost inflation must be under tight control. AW has certainly turned things around here.
To post a trading update 3 weeks before the year end. Why not just wait for rage good news to come out on the 18th May ?
Any theories ?
Consequently, Trading profit and adjusted profit before tax for this year are forecast to be ahead of the Board's initial expectations and are now expected to be around £155m and £135m respectively, which equates to growth of approximately 10% compared to prior year1. Net debt is anticipated to be broadly in line with last year and the Board's expectations.
And an increase in the dividend as we’ll hopefully
Positive trading statement issued today. Would now like to see that positivity transfer to the share price. Continued good fortune to one and all. Rgds S
From time to time I find it's worth checking on PFD's credit rating: Turns out it was raised last summer,
https://www.moodys.com/research/Moodys-upgrades-Premier-Foods-to-Ba3-from-B1-outlook-stable--PR_466590
(or search for "Moodys premier foods" if that link gets squished by LSE). Previous upgrade was May 2021, before that Sep 2020. So a steady improvement which is (1) a vote of confidence in PFD and (2) means that PFD can access or refinance debt at better rates. I guess Moodys come out with any changes in credit ratings a month or two after PFD publishes its final results for each year, so a few months to wait and see how they rate PFD this time...
Ah yes ! that must be it
A little way off next set of trading figures so presumably today's rise is off the back of ABF's figures out today.
And this year they are back on the acquisition circuit
Plus the Times / Tempus today has placed a Buy Rating on the stock, believing Trading on 10 x Forward Earnings is too low given the continued growth expected. Well some of us knew that already !
Also good to hear that we’re still on track for a full Pension buyout in the medium term with the RHM part already approaching buyout valuation, with Pension contributions now a reducing part of FCF. Another Lead Boot being removed !
This is Pfd always a slow burn … it will get there in the end I’m sure .
( shame about any job losses at the Knighton plant )
Looks like things are still going in the right direction will great international growth thrown in but with a very low rating.Add some more today if this share price does not start moving I’m sure someone else will decide there having a slice of this.
Premier Foods said it remains on track to deliver on expectations for the full year after a strong third-quarter performance. The owner of brand such as Mr Kipling and Bisto reported sales in the 13 weeks to December 31 were up 12% against the prior year. Premier Foods noted a particularly strong performance in Grocery sales, which grew 17% against the previous year.
Wonder if we can do a protein boosted plantation range ( similar how Myprotein ( thg) has with Iceland foods )
https://www.kantar.com/uki/inspiration/fmcg/2022-wp-uk-grocery-price-inflation-fuels-first-ever-12-billion-christmas
£12 Billion days of Xmas !!
Mince pies sales up by 19% ( hopefully we are in the mix ) not long to wait
Trading update 19th Jan….we will find out then.
It will be nice to know if the mince pie sales have had another good year and hopefully some figures on the US side
GLA
Here is hoping that 2023 see's a steady but decent rise in share price. Not going to set targets but I would like to see a decent rise for PFD. Continued good luck to all on this board be you investors, potential investors or those just watching. Good luck and success to one and all. Per ardua ad astra!!!! Rgds Saintly
In 2023…..or something more spectacular ?
Any predictions ?
Not really, short of any investment activity by another, Premier usually has a strong 3rd Qtr so perhaps word is out all's looking good. Not picked anything up though.
At the close today……any ideas ?
Anyone have an idea of how many pizza bases we are making/ selling?
This will be at the Charnwood factory in Leicester etc