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It's the first of the three published this morning that are on this site. (Starcast at 7.45am)
which articles that?
Sorry, the article indicates a sale of £163.37m
On the attached "PFD share news", it is stated that "Premier Foods has sold its 49% stake in bread maker Hovis to UK private equity firm Endless, with proceeds of £37m to be used to strengthen the balance sheet.
Did we not expect a sale of £150m ??
I'm quite liking our latest team, slowly slowly things seem to be going well. Glad I stayed in.
I agree shocking RNS as this just causes people to speculate. But Italians pulled out & I guess as bid exceeded their £100 mill limit. Perhaps we should start a sweep on final sale price !
Personally bread sales are just buoyant due to lockdown & when/if things return back to normal bread sales will steady in fact i believe more people are slowly moving away from mass produced bread & suggest sales may have peaked & will probably decline over the next few years.
No I think it means the £37m is after we / pfd have paid back any loans / debts we had outstanding, so it might have been £45m each approx and then £37m net for pfd after we paid back / off what we owed.
The Gore Group weren't big on investing into the mills/bakeries when I worked on the Milling side. This slightly lower than expected figure may be a reflection on this and the bakeries 'general health'. Bearing in mind what's already been posted re a net figure of 'loan notes/interest'.
Yes I thinbk we were all expecting more like £50m , but it's another rns from pfd that's is very short on info.
It would be nice to be told just how much hovis was bought for and how much interest / loans had to be paid out. but I guess £37m is a nice lump of free cash.
It’s the amount we get after the loans and interest hovis had have been repaid. That’s how I read it anyway. Another nice chunk off our debt though if that’s what they use it for.
Were we not hoping for a tad more than that ?
We all could be waking up to an RNS tomorrow then seeing as sky reported the deal could be confirmed this week!
Likewise dogscott ! I've held PFD for years. I even participated in the rights issue all those years ago, and I'm still in the red! If I can recover my initial investment I will consider myself lucky. PFD has had a succession of very poor management over the years. Lets hope the share price carries on recovering. There is great potential for Premier Foods to become a great company once again, producing sustainable profits.
For years, I cursed myself for getting into PFD. £1 and hopefully upwards, I'm so glad I stayed. Looking forward to the next update. GLA
I like the sound of that !!!
Sounds like good news.....the market certainly thinks so !
http://news.sky.com/story/endless-bakes-oven-ready-deal-for-hovis-after-bidding-war-12123445
Greg. yeah nice to see upward movement again at last. Makes up for the profit I've missed out on having sold itv yesterday.
Wouldn't place too much emphasis on the latest lockdown. I'm anticipating there will be massive non-compliance around the country this time around. People are getting fed up and sceptical in equal measures.
Here we go... lockdown about to commence and PFD start's moving north....
How high will this go during lockdown, with figures about to be released and hopefully the Hovis sale. and everyone eating at home...
All eyes on a fantastic month ahead... apart from lockdown with the wife and kids for a month ... ho ho ho!!
Agreed, I hope they upgrade the guidance as that will really light a fire under the SP. And a mention about who won the bid for Hovis would be nice.
With the return of lockdown just as our key earning season starts this could be an unbelievable year for PFD.
Today. Hopefully leading up to some good news next week.
Can't help thinking that on the 24th when the NS&I 1.15% savings rate goes, lots of folk will be looking for an alternative for there money. PFD must be looking good for them?
Feel exactly the same. Im sure it will rebound up to results day and the predicted full lock down accross the country in the coming weeks. Shops will be raided as normal and our winter foods will fly off the shelf.
The more stringent the lockdowns the better it is for PFD.....so why do we just follow the market down ?
Assume that we are treading water until nov 10th.
You are right.....a bit of news on the Hovis front would be good. It’s a while since we heard anything. Hope the deal hasn’t gone tits up.
Any ideas on whats going on with the large sells. Is it oasis? Not too long till results and hopefully some news on hovis. Seems to be a lot of trades but interested to know peoples tgoufhts.