Member Info for Rich62

I've sold and taken profit here - I couldn't bear to see share price driven back down as it was after HY results.
Excellent Q3 update and will buy back when price stabilises.
That's the market I'm afraid - you can't fight it, just go with the trends to buy low, sell higher
Rich

I'm hoping for
- Excellent Q3 sales and good margins
- Further reduction in debt pile
- News on new product launches and marketing campaigns - perhaps more plantastic / vegan products
- Possible Nissin Soba partnership developments??
Followed by some decent broker upgrades, when they see the profit figures and debt numbers

PFD bouncing off year high share price of 110p - a good sign.
I've added more at 107.6p expecting share price to break 110p before Tuesday...
Just as a reminder folks, Q3 (Oct-Dec) results are out on Tuesday 19th Jan
I can't believe they will be anything other than excellent!
- We know that all the major supermarkets have delivered around 7-8% revenue growth in the last quarter including all important Xmas period
In my view PFD should be better as focused on Winter products (sauces, cakes etc)
Good luck for Tuesday all holders
Rich

Trading statement for year end due at anytime - probably early next week??

Suspect reason for share price not moving is that market is waiting for some better news from company...

Rich

I'm expecting 120p on or before results day...

Yes some may take profit on Q3 results day, leading to share price slipping a bit - but then broker upgrades should see price stabilise and then move on upwards. I'm anticipating broker upgrades target 140-150p.
Lets see!
Good luck all holders
Rich

Recent supermarket results (excluding fuel sales):
Sainsbury 15 weeks to 2/1/21 - Grocery sales up 7.4%

Morrisons - Q3 Aug - 1st Nov = L4L Sales up 7.1%
Q4 to date, which covers Xmas period - L4L sales up 8.0%
Tesco results should be out tomorrow....

From these, I'd expect Premier Foods Q3 to be more than 8% (bearing in mind PFD is more focused on "winter mix" product and also with the 2nd lockdown period and people stocking up again on dried goods)
Just my view for what its worth!
Rich

Agree that most PI's won't read the detail - however I've read it today so that I understand..
PFD has made massive steps from being a zombie company with huge debtl
A) Pension restructuring
B) Good results (especially with CV19 uplift in sales)
C) Good cost control and debt repayment
I trust the BOD now to do the right thing for the business to get debt lower and share price re-rated. Personally not bothered with dividend, I'd rather debt reduced further / invest in brands etc to increase sales further.
It feels like we have made real progress in the last year and I see the vote, the next step up.
Rich

MY predictions ..
- Will break year high share price of 110p, if vote is approved at Monday's General Meeting..
- Rush to 120p+ share price on excellent Q3 results stated in RNS on Monday 19th January, to include more plans for debt reduction
Re-rating and broker upgrades to 140p+
Rich

I've just voted for the proposal to approve a capital reduction.
- This is recommended by the Board.

Proposal is to use the £1,409.8m positive balance in the Company's share premium account and transfer to the P+L account. This will eliminate the P+L deficit, creating additional distributable reserves for the company.
There is no dilution in the number of shares or any new shares to be issued.

As the share premium account is an "undistributable reserve", the purposes for which it can be used are extremely restricted hence the need for a vote.

The vote requires 75% of All shares held to vote for the proposal to get it passed. SO EVERY VOTE COUNTS!!!
The deadline for this vote is SAT 9 JAN AT 11AM

Gen Meeting to review results / proposal is on Monday 11 Jan and if vote succeeds, PFD will need to prove to the courts that there is no increased risk for creditors etc. A court hearing is pencilled in for 9 Feb.

Personally I'm happy for this change, hence my vote. PFD have made major strides in improving results and in particular reducing debt in last year and this next step, can only be the right thing to do IMO to get share re-rated and potential for dividend....

Rich

Some chunky buys last week amongst the low volume (20k share blocks) - I suspect this is the IIs reinvesting their dividends??
- Useful to soak up sellers happy to take <80p and move share price upwards into 80p's
With the CV19 situation worsening again (unfortunately), I would expect IHC to have a bumper year for sales in 2021
GLA holders Rich

Looks like we are pushing back over 100p - good to see.
Holding here expecting 120p on 19th Jan when Q3 results are out.
A combination of lockdown + Xmas shopping should see continued strong sales growth IMO.
Finally feels that PFD have turned corner - hoping that strong results will see more debt repaid and share re-rated,
Good luck all holders and have a very merry Christmas!
Rich

Hi Jed - didn't mean to post twice!
Someone needed to change the narrative on this share on this board - far too many gloomy posts on here.
PFD is in the best place its been for a decade as a recovery share - BOD making real progress in reducing debt and can start to invest in the brands again.
The reason share price saw weakness after the HY results was purely profit taking and some shorters taking advantage of the big price hike since the CV19 market craziness in the Spring when this hit 19p.
I fully expect Q3 results to be excellent and have added a big slug at 86.6p to average up.
Rich

There's 25% upside from the current share price to 110p, the year high price.
Q3 results out on 19/1/20 - this covers period Oct, Nov, Dec when UK still in lockdown plus Xmas period for mince pies etc.
We also know that the Winter months are always PFDs best part of year due to product mix.
A no brainer BUY at present IMO for a swing trade to 110-120p or as long term investment as debt is further reduced and eventually a dividend will be reinstated
Rich

There's 25% upside from the current share price to 110p, the year high price.
Q3 results out on 19/1/20 - this covers period Oct, Nov, Dec when UK still in lockdown plus Xmas period for mince pies etc.
We also know that the Winter months are always PFDs best part of year due to product mix.
A no brainer BUY at present IMO for a swing trade to 110-120p or as long term investment as debt is further reduced and eventually a dividend will be reinstated
Rich

Thanks Rivaldo for the tip on this one. Sold at 91.3p for 70% profit in a month - much appreciated.
May buy back if price slips significantly - great company, just felt obliged to take the profit on the day

Rich

Thanks Mark

Spiked down to 243p briefly, the day after last results (12th November), before share price recovered to around 260p
Surprised this price is being challenged again, unless as you suggest there is a big seller??

Regardless will monitor - possible opportunity to buy much lower?

Rich

Is this being driven down for a reason?
- to fill a big order?
- being shorted down?
- takeover, don't want to pay too much above price on a specific date?
What's going on??

Thanks Kallumama, useful information and good to know.
From the tweet he does say that he is retaining the rest, so hopefully big seller is out?
If so, onwards and upwards
I'm holding shares I bought below 60p, so actually adding on the progress made. Haven't bought at top 110p, and I reckon a 25% discount off that price is a steal. Time will tell, bring on the full year results including further debt reduction.
Rich

So we are now 25% lower than peak of 110p - bought on 10th November on HY results.
What's changed?
Nothing, just profit taking and share being shorted?
Buying opportunity now with 25% upside so added at 86.7p
Rich

Rossie - the fund managers will keep driving this share down, trying to buy more <90p IMO
They know there's 15-20% upside here - however it will be a while until this is realised with the next quarter results in the New Year.
The fund managers can manipulate the price down on low volume and people's desire for instant results - a lot of people will sell here and move to another sector eg bombed out shares, perceived as "value", with CV19 vaccine apparently "just around the corner"....In my view this is probably at least 6-9 months away realistically.
Personally I see better value here as the winter is traditionally PFDs best half, with sales of bisto, cakes, seasoning etc.
I'll probably add if price is dropped much lower and hold for next set of results - just requires some patience!
Rich