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Just to put things into perspective, in the 4 years since the McCormick bid we've had a chipping away of the debt pile, potential good news re the fixing of the pension schemes, and more good news re a potential cash injection from Hovis. Plus a global catastrophe that's benefited the product portfolio and hence the bottom line.
But we're still south of the McCormick offer.
I don't want to open up old wounds and rows about whether it was right or wrong to reject the offer or whether it was a solid offer, yada yada yada - but given that someone was considering paying 63p even then, and that management at the time felt that 63p was too low, It's still an interesting reference point. So I'm holding out for more.
Just putting it out there.
Please correct me if I'm wrong
Prior to the right issue (just 4 weeks before the due date), the shares was trading around 180p
Normalized price after the right issue was at 85p
Yes; I expect the shares to go above £1
Well its been a long time coming. Agree its worth more than 65p a share, i didnt think we would pass 50p this year. 55p yesterday, i think it will stick today. A rise will continue up until results day.
PFD holders completely understand the term waiting i suggest !
Its just a waiting game.. this is worth a lot more than 65p
JEFFERIES RAISES PREMIER FOODS PRICE TARGET TO 80 (63) PENCE - 'BUY'
Can beat that Dogger i used to be the production planner for the whole Cup a soup range when owned by Unilever when made in Ashford Kent over 25 years ago. This brand also came with a lot of food service product for these type outlets . I also used to plan the Vesta Curry production line which was my favourite product only because it had a bout a zillion satchets in the box & I always used to think it was quicker making a curry from scratch .
I used to work for premier. They have been supplying food service outlets for years. They used to have a contract to supply bookers amongst many others. Obviously not sure what happens these days as I have been retired for eight years.
After all this time I wasn't aware that pfd had a foodservice business for the catering trade, or is this just a surgested start of one.
Are they actually making any products that can be / are being sold to any schools or other trade outlets or just ideas at this stage. I guess this could be another venture if they get much interest and have any spare capacity in their factory set-up.
https://www.premierfoodservice.co.uk/news/Back-to-school-resources-launched-by-to-help-schoo
launches
all those cakes & tears nearly forgotten now. Just need the dividend restored & this becomes a player for pension funds etc.
£1 doesn't seem so daft now
60's
Paid
look at the buys, everyones loading up before the rns, theyve let their mates in big and leaked it to sky news
only 11am plenty of time - people still not clocked on
https://www.aryzta.com/
plenty of buyers for Hovis
Blimey, PFD at the top of my board - not sure that's ever happened before! I'm going to need to lie down.
At the risk of sounding like Mr Grumpy, I'm curious to see some reporting on who the likely buyers might be. ABF and Warburtons must be out due to competition issues.
But good move by Gores, this is definitely the time to strike. That's a nice chunk of change for PFD and at 7-10 times earnings is certainly deleveraging.
Fingers crossed.
Baron Investments
@barondaytrading
#PFD Expensive debt is being retired/notes redeemed and thus earnings enhancing. I expect more and lower coupon debt ahead.With deleveraging accelerating,free cash growing(and new product lines, greater marketing) the transfer to equity value will be seismic.Upside remains major
lots of buying now.. let move on to 60p
thats what kept this down on open when I got in - I topped up again, brakes will come off soon
looks like Tesco baking Hovis branded loaves in store also now
people not really woken up yet