The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Is 11 years of pain worth seeing 70p broken - just now yes!
Still have to hit 89p to reach my highest paid share price, but never in a month of Sunday’s did I think I’d ever see that as potential. At one point early this year was sitting on a £60k loss with PFD, hovered over the Sell button for so long as I didn’t want to be left with nothing and haircut seemed only way out - a real flip of the coin decision to stay - thank goodness I did!
For those who got out I am genuinely sorry !
Thank you Kallumama for taking the time to post and share your insights.
I’ve been in this share 12 years, seen profit that I didn’t take then huge losses, but didn’t sell, and now back to square 1 with close to break even.
Will be holding and waiting for next year or so as I hope (and it is only hope) we finally see significant share price growth.
Best of luck to the new holders but heartfelt best wishes to the long term folks ??
Backing from MF:
https://www.fool.co.uk/investing/2020/04/27/5k-to-spend-id-buy-this-safe-haven-stock-in-an-isa-for-may/
Thanks tommyann, I appreciate all your comments on this board! Also get a little nervous asking questions on this here as my knowledge is appalling, but in general (unlike some other boards) the vast majority of posters are extremely kind (with silly questions) and all want to share info and help support. I'm sure the comments weren't meant as a dig :-) GLA and keep posting :-)
Hi Tommyann, I’m in the same position as yourself, been here a long time, rights issues and all. I’ve had so many false dawns with this share that I’m just so jaded! Not sure about a DIV, not that I’m an expert, but wouldn’t paying a DIV mean an impact on cash flow/profits?
Do you know when the next announcements in May are?
Cheers and GLA
Loved all your comments over the years. I’m still out £££ after the rights fiasco and GD ‘leadership’, looking to opt out if I can hit my avg of 50p - stress has been a lot and faith well dented but I hope the new management get this company back on track and I can see some shareholder returns - we’ve been forgotten about for so long!
Article quotes “In a trading update on Monday that lifted shares in the British food manufacturer more than 20 per cent, the group said it expected sales in the fourth quarter to be 3.6 per cent higher than the year before, with a sharp increase of 10.5 per cent in March.
The jump was particularly acute in the UK, where sales were expected to have increased about 7 per cent in the fourth quarter and 15 per cent in March.
“The pubs are closed, the restaurants are closed, universities and schools are closed, we’re all working from home and not eating at work. All those extra meals are being eaten at home,” said Alex Whitehouse, chief executive.
Instant soups, noodles and pasta sauces were among the store cupboard staples under increased demand, he said, adding that sales of the group’s home baking range had “gone through the roof” as consumers looked for diversion during free time at home.
The company said it was working at maximum capacity to fulfil the increase in demand, which had dipped slightly since the end of March but was still above average for the time of year.
The maker of Ambrosia rice puddings and Oxo stock cubes, which has been struggling with high debt and pressure to accelerate a turnround, made the announcement alongside an overhaul of its pension schemes after a year-long strategic review.
Under the new pension deal, Premier Foods plans to merge three of its retirement schemes — RHM, Premier Foods and Premier Grocery Products — and then pay an insurer to “buyout”, or take over, the liabilities of the largest plan.
The food group plans to use any prospective surplus from the buyout to fund deficits in two remaining schemes, bringing down future contribution costs.
However, John Ralfe, an independent pensions consultant, questioned whether the deal would create the savings forecast by Premier Foods.
“The plan is to move to a buyout in the large RHM scheme, which has an IAS19 (accounting) surplus, and then use the remaining surplus to pay down the much smaller Premier Foods scheme deficit,” said Mr Ralfe.
He explained that the buyout cost was typically 25 to 30 per cent higher than the IAS value — so in this case an estimated £4.7bn to £4.9bn.
“Based on these numbers, the surplus after an RHM buyout, which can be used to pay down the Premier Foods deficit, is very small,” he added.
“If the surplus after RHM buyout is small, then this “
Sharecast News) - Premier Foods shares jumped after the maker of Mr Kipling cakes struck a deal with its pension trustees and posted a surge in demand for its products during the Covid-19 crisis.
The company said it had agreed a "segregated merger" of its three pension schemes that could reduce the net present value of pension deficit contributions by about 45% to £175m-£185m. The company's RHM scheme is moving closer to a buyout by an insurer, which would leave a surplus for strengthening the remaining deficit schemes.
The agreement would reduce Premier's annual pension deficit contributions of £38m to as little as £17m with a maximum of £30m subject to discussions, the company said. Premier shares surged 18.4% to 38.73p at 09:11 BST.
Colin Day, Premier's chairman, said: "The segregated merger of the company's pensions schemes we are announcing today represents a ground-breaking agreement which is set to unlock benefits and value for all stakeholders in the company, leveraging the strength of the RHM scheme and substantially improving the position of the Premier Foods schemes."
Premier, which also makes Bisto gravy and Angel Delight, said trading for the year to the end of March was at the top end of expectations after an estimated 10.5% sales spurt in March as shoppers stocked during the Covid-19 crisis. In the UK, sales rose 15.1% in March. Premier said it expected further benefits to trading during the crisis.
"Volumes have started to reduce from the exceptional levels seen in March, although are still expected to continue to be higher than average patterns of demand," Premier said. "This reflects more meals being eaten at home than usual due to recent measures set out by HM Government and hence increased demand for the group's product ranges."
Premier said it expected to report £90m of cash from operating activities at the end of March. It has drawn £85m of its £176.6m revolving credit facility leaving it with more than £175m of cash and a further £96.1m to draw on if needed.