Member Info for dogger

The market must like AV more that LGEN.
LGEN have great results and go down.
AV have great results and go up 5.8%
Looks like LGEN are taking advantage today though.

A bit pessimistic……but probably correct.

I have been wrong before but……I don’t see Nissin making a bid. I just think they are making sure that no one else does.

We are back on the acquisition trail……The spice Tailor.
Sounds like a good fit for PFD

No startling revelations.
Interesting question about the lack of share ownership by some of the non-exec directors. They brushed it off by saying that they were trying to ensure their independence.
Another interesting question about why they are trying to sell cake to the yanks when they have already eaten too much cake of their own. Answered quite neatly by the CEO.
A fair amount of congratulations to the board for bailing out the company.

Note big increases in non branded. If that rate continues at the expense of branded it will affect the bottom line.

I wonder if it’s in anticipation of a good trading update tomorrow.
I am attending the AGM online so I will report any news.

AGM and trading update on Wednesday

A great trading statement in the current climate.
I like the sound of the bit about “ The Group's overall exposure to inflation is minimal”

Pleased to hear that…..I hope you are right.

My view - for what it’s worth because I am usually wrong - is that there is still some way to go down. There is so little good news out there and little obvious sign of any.
I too am sat on cash and will stay sitting on it for a while longer.

Theleather1 and Billyn

I really don’t know which own label products PFD currently make. Almost certainly JS and Tesco own label cakes but I am out of touch with the detail these days.
The own label recipes were always different to the branded products and dictated by the customer themselves. Tesco own label recipe would be different to JS etc.
I was involved in the canning business before it was sold to Princes and I remember we used to make Tesco value baked beans…..they didn’t contain that many beans !!
The SP is very difficult to predict……I have been hopeful for a takeover but it is a long time coming. Remember Nissin have just increased their stake by 3% after buying oasis’s stake. They would obviously need to agree to any takeover attempt, so I guess that makes it more unlikely.
Also the government isn’t keen on American takeovers of Uk food manufacturers so I reckon the bid would have to either come from Japan or a Uk venture capitalist looking at a break up.
I sold half my shares a few days ago and can’t decide whether to buy them back for the divi. Ex divi date next week.
Without a takeover I can see the drifting further down. Not below £1 though. I guess buyers are not particularly attracted by a 1% divi ?

Hi Theleather1
Yes, Premier used to make own label products and I am sure that they still do. Back in my day 15 to 20 years ago they would use spare capacity in the factories to make own label products. It was always something that was second to brands because the margins are far less.
More recently Premier have concentrated on brands and that has been one of the reasons for the improved profitability.

Thanks for your views Billyn….I appreciate it.

You are right Billyn, I don’t suffer from any kind of “ism”, but I am interested in your view that this stuff “attracts and retains employees”. I have been out of the workplace now for ten years (I used to work for PFD). Is there evidence that that is true ?

I agree with you about the current management team. They have done very well over the last few years (helped by covid), to reduce debt and sort out the pensions.
I am however disappointed that they feel it necessary to add overheads to the business by following this virtue signalling garbage.

Mr Kipling maker Premier Foods is to offer 'trans inclusivity' training to all staff, in a further shake-up of workplace policies.

Premier Foods, which also makes Bisto and Batchelors brands, is launching "new modern workplace policies" which include providing online training for all 4,000 staff on menopause and how to cope with it, as well as practical tips for those working with colleagues going through menopause.

Menopause champions are set to host regular "menopause cafes" for colleagues to discuss their experiences, it said.

I’m out !!!!!

The last time this happened I bought at 2.33.
As others have said it could go back down there or even lower. It’s difficult to see any positives for the markets to latch onto at the moment……sorry for the pessimistic post !!

Thanks Me12345 that explains what is going on.
I guess it makes it even more unlikely that a bid will come from anywhere else when Nissin have such a substantial holding.