Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Thanks for this report Kall, very good reading and I must admit the board gives a very positive outlook as regards to finace and add on product growth for the next few years.
I know I am bias as a shareholder but from an outsider looking to purchase a british company that has a very good future with growing profits and sales, PFD does look under valued and with a sp this low now would be the right time to strike at £1.50 ish before the sp goes up too much.
Quite surprising price moves today. Great results but as others have said how good will the next 1, 2, 3 years look in comparison?
It makes me think the SP may struggle to reflect the better underlying company when there’s not going to be much to get investors excited to buy the shares.
The divi, while better than nothing isn’t going to make you rich anytime soon. And with so many “recovery” shares out there for people to pick instead.
If the shares fall considerably I may buy some to keep a long time and as a small part of my portfolio in the increasing divi category. But not now.
Based on the analyst call this morning, analysts are factoring in refinancing of debt around 5.5%. The HSBC analyst assumes no reduction in interest costs. We will find out the level tomorrow but anything sub 4% should be a catalyst for analysts to re-assess their PFD models and increase target price. With Premier now paying a dividend, I think income investors will now take a look. The pension buyout may be a few years out but with considerable scope for dividend increases driven by revenue growth and reduction in interest costs and the recent Valeo Foods sale to Bain, Premier shares look at least 30% undervalued at current levels.
I sold out of this a while back in the mid 90's. Probably a bit too early but was delighted to get that at the time!
A couple of thoughts:
Firstly what a great pleasure it is to see PFD having so much better management. The company suffered with Darby for too long and it is now night and day both in terms of performance and the direction of the company. Where we could have been if we had better management 5-10 years ago who knows....
Secondly, whilst I really feel that PFD has turned a corner I do have a major questions over the sustainability of the improved performance in the past year. 2020/21 was a year (hopefully) like no others. People could not/or decided not to eat out for much of the year and people worked and stayed at home more than they ever will do again. Therefore it is hardly surprising that a company that focuses on home cooked meals and 'sweet treats' does well in this environment. Will we see a large drop off once the inevitable surge of people eating out and going on holidays happens. I suspect to some extent yes.
Premier Foods: Jefferies reiterates buy with a target price of 110p.
I guess Pernix will now in hindsight come on and say we should have sold yesterday, but first thing pf was £1.08 and then it was the wrong call but it's true to say it's only because the ftse is down about 120 points.
So within a few days we should bounce back up. Funny old day !!!!!
Dow Jones nose dived on opening
Stick with PFD ( people will always have to eat )
Unlike crypto currencies..
Here is a sage explaining how to correctly trade on the stock market:
https://m.youtube.com/watch?v=A3DnzEwP-C4
Yep
Everything is tanking
Crypto is falling through the floor
This could be the 'I'm cheesed off with covid black wednesday crash' crash
The Jimbo San
just look at the rest of the markets and the so called growth stocks are getting crushed. premier is holding up well, although still early days
Premier shares ride low, higher & then low today. Lots of profit taking as we thought. These trading results were really good with lots of pros. Long term investors will do ok. Any good news from the company & short term investors take share profits. So higher share price does not hold. The broker target prices are 130’s pence generally but that not keep investors interested in this share for too long. So most cards are open now. I personally cannot see lots of profits trading this share unless it moves lower. So wait n see.
The only positive here is the SP did hit £1.08 but the negative is it has fallen back again. That's PFD for you.!!!!!
Broker ratings were £1.30 6-12 months ago it didn't make that. Long term investors still holding out & short terms investors selling out. In all good news for PDF but we saw £1.14 some months ago & it slipped back into the 80's.
Good for a quick buck on good news...that's about it
A presentation to investors and analysts will be webcast today at 9:00am BST.
So I wonder when we will get some new price targets and what will they be ?????
Ex-dividend is 1st July, paid on 30th July.
Great performance, glad I held, was very nervous, market can be cruel even when all is good, just wanted to ask if anyone knew yet, what date do you have to hold to qualify for dividend, maybe it has yet to be announced?
When you think the ftse is down about 100 points PFD is doing very well, just wait until the market changes and goes back up what will PFD be then £1.20- £1.50?
In the dark dark days of Clarke and Darby I swore to myself I would not sell PFD until I got a dividend. Now .....................................................
But I still won't sell!!!!!!!!!
What a great set of results! Sales & Profit growth some of the best I’ve seen for a foods producer. A balance between debt payoff & a starter dividend as well. Future growth with new products on the way & International expansion going great guns. The Pension surplus is great too & debt refinancing at much lower rates. I think things can only get better for this company. Shares are undervalued & the market should recognise this. I would think there is upside to broker share price upgrades now.
Expecting a steady rise today after the cinference call. Well chuffes with the dividend. Happy day. The initial rise to 108 was nice too. Happy to see this build even further now. Strange it went to 114 on a rumour of a dividend. Just the was it goes. Expect 114 in the very near future, and looking forward to a rerate. Looks like we have a new finance provider, the rate will be interesting. The banks were probably fighting to finance us with the improved balance sheet.
Profits and FCF in line with expectations, but reinstating a sensible dividend and announcing the refinancing is massive. . EBITDA of £170m is bigger than I expected even. Very happy overall
Also love not hearing about "tougher comparables" for H2. That's a real growth mindset.
Well for once that was a very good read and better than i was exprcting, very growth , good plans going forward and a Divi, wow. I think it's the best rns for 10 years.
If we don't see this sp go to £1.50 over the next few months then theres something very wrong with the markets.
That’s quite some turnaround and now with a Dividend, I frankly couldn’t careless about today or tomorrow’s SP, as will look again in 12 months time when expect to be pleased !
Branded revenue* up +13.6% in full year and ahead +7.0% in Q4
· Trading profit* increased +11.9% to £148.3m after increased marketing investment and incremental Covid costs
· Net debt/EBITDA,3,11 (pre-IFRS 16) reduced to 1.9x, the Group's lowest ever leverage14
· Repaid £190m Floating rate notes in FY20/21 reducing interest costs by c.£10m p.a.; plus ratings agency upgrades
· Combined pensions surplus of £539.9m
· New RCF facility to 2024 and launching offer of new £300m 5 year Senior Secured Fixed Rate Notes
· Proposed final dividend of 1.0 pence per share; reinstated for first time in thirteen years
Buckle your seats!