The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Actually International sales are now significant. I have been sceptical in the past, however there are now often days when there are more trailers/containers shipping international orders from freeze and bakery than there are from the NDC at Rugby.
Talking of Paul Hollywood brand https://plus.google.com/111610108206781509302/posts/4j8A5NiAzEJ
Not sure why you would expect strong numbers for 3rd quarter trading results. Creative accounting can only work for so long and do we really believe that PFD have turned a corner? I do not believe the significant cost savings promised by GD will come to pass this year. The next phase of the logistics restructure begins January 18 and that will be significant , the fallout from that will be felt in the current financial year.
The problem with the gluten free lines is that they are all made by an independent bakery in Cumbria. Even if these lines did take off PF would not be able to keep up with demand. The same with the Mr Klpling Cup cakes, (different supplier) although theres no danger of those selling high volumes.
This is what GD said when he was head hunted to join PF in Feb 2013. "I’ve got to the stage in my career, having worked for some really huge global companies like Coca-Cola for 15 years and Vodafone for 12, where I can see that in a role like this as CEO I can have disproportionate personal impact.” “I’m very happy with the previous CEO's strategy and there’s evidence of it working. The eight power brands have grown for four consecutive quarters. I would consider selling some of the minority brands but its absolutely not the focus of my strategy. Previous CEO leadership was dominated by financial restructurings, mine is anchored in sales and operational management. “What I’ve inherited positively is a stable base to grow the business from, I feel its certainly off the danger list now. I have to deliver a sequence of half-year trading growth and that will transform the way analysts and investors look at the business. I'm not planning an exports push, given the domestic appeal of Premier’s very British brands. Less than 10pc of sales comes from overseas, mostly from areas with high numbers of expatriate Brits. The value of CWW on my first day was £400m and Vodafone paid £1bn, so the value of the company increased two and a half times in my 10 months at the company,” Clearly he has changed his strategy. Now with his £25m investment in the P25 facility at Carlton Bakery running at 35% capacity and the new cost saving initiatives implemented in the supply chain racking up additional costs and delivering appalling service to key customers, he looks unlikely to deliver anything like the growth he managed at CWW. If I didn't know better I would say he was out of his depth.
No comfort to those who are in deep with this share, but if you pick up shares on the dips there is a real opportunity to realize a good return on PFD. Darby is on borrowed time and under huge pressure to deliver. Can you really see us being in this position in 2 or 3 years time? 5% to 8% return on PFD is quite possible as the share price fluctuates on news and chinese whispers. Who knows you may even strike lucky as we did last year when McCormick appeared. Where this will be in 3 years, who knows, but I am certain things will be very different to where they are now. Everyone was expecting continuing bad news today so I cant see the price tanking over the next few days. I'll be happy keeping close to the share as I have done for several years, patiently buying the dips, taking my profit when I can for a while yet.