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The buzz 13 Oct 2017

Where is Q2 Trading Update Last year the Q2 Trading Update was on the 12th October. It is now 13th. Late announcement of results often means that they are not as good as expected. No sign of strength in the shares pre-announcement either. With the likes of Tesco reporting better results helped by working closely with their suppliers, is PFD going to announce higher turnover but profit not as good as hoped for - or indeed needed to pay off the pension contributions, debt and for investment in the business?No clues with first trades - the market in PFD seems to be dead at the moment - at 08:22 there have been just 10.3k of trades. (Down slightly at 38.75-39.25p - this is still just above my buy back price that I posted months ago).The B

item club 10 Oct 2017

Half year results 15 November 2017. Premier Foods will announce its for the 26 weeks ended 30 September 20 Half year results17 on Wednesday, 15 November 2017. A presentation for analysts and investors will be webcast live at 90am, and hosted by Gavin Darby, CEO and Alastair Murray, CFO. A recording of the webcast will be available on the Company's website later in the day. A conference call for bond investors and analysts will also be hosted by Gavin Darby and Alastair Murray the same day at 1:30pm. To register for this call, current and prospective bond investors and analysts please e-mail investor.relations@premierfoods.co.uk.

massmid 04 Oct 2017

Re: A Small Positive Sign Excellent analysis.And RHM Surplus may be ignored anyway under new accounting rules proposed by Regulators.

The buzz 04 Oct 2017

A Small Positive Sign In my books the PFD pension deficit is one if not the most important financial drivers for PFD's future, so I had a quick look at the likely change in the predicted deficit since the PFD final results came out in May 2017 using the discount rate and inflation assumptions used by Tesco in their report out today.The Tesco results out today calculated its pension deficit by using a discount rate of 2.8% whereas PFD last used a discount rate of 2.65%.Since an increase in discount rate reduces pension deficit by £84m, then the 0.15% increase from 2.65% to 2.8% equates to a reduction of about £126m in the predicted PFD pension deficit.Conversely inflation used by Tesco was 3.1%, whereas PFD appear to use 3.3%. So PFD would record an increase in inflation of 0.2%. A 0.1% increase in inflation increases PFD's pension deficit by £38.6m, so a 0.2% in inflation will increase the deficit by £77.2m.So just considering these terms alone, the PFD pension deficit (if worked out now) would be reduced by about £50. Or perhaps more importantly has not increased to even more challenging levels!However, the calculation gets a bit messy if one splits out the RHM pension (in surplus) from the PFD pension (deficit of £489m). I think that the RHM surplus is a red herring and that one should only consider the PFD deficit.Last year the Q2 trading update came on 12th October, so not long now before the 2017 Q2 update comes, although it will not be until November that the half year report comes out and shows updated pension deficit calculations.The B

OilPrince 10 Sep 2017

Motleyfool, 2 Bargain Stocks you... Premier Foods (LSE: PFD) hasn’t been a robust earnings generator in recent years as difficult trading conditions have smacked the top line. But City analysts believe the business is about to turn a corner and enjoy a period of sustained earnings growth.For the year to March 2018 Premier Foods is predicted to report a 10% profits improvement, and to follow this with an extra 6% improvement in fiscal 2019.....Link to continue reading....[link]

pharmaspecialist 04 Sep 2017

Re: I won't forget September last years excu... I have just checked the weather outlook for September and can confirm that things are certainly looking good for roast dinners. I would anticipate Brexit related excuses this time, perhaps the uncertainty is putting people off buying rice puddings.

pyueck 04 Sep 2017

I won't forget September last years excuse A message to you Mr Darby. I won't forget your excuse for last years Q2 poor trading, a warm September stopping people having roast dinners. So I have decided to follow this months weather closely, so you are held to account.Well one Sunday down in September this year and it was wet and perfect weather for a Roast Dinner. Based on your excuses last year I fully expect sales to be well up, otherwise management really must be dire. You also said in the latest results that you were expecting the results to bounce back in the rest of the year.This surely must be his last chance. There can be no excuses any more, there are none.

paul1945 24 Aug 2017

Bought On director buying new chairman seems to have a good CV

massmid 23 Aug 2017

Re: DARBY Good to see CEO and Chairman buying shares.

item club 11 Aug 2017

forgot subject is "worth holding on" Another offer could come along so at this price its a good one !

item club 11 Aug 2017

You never know when another offer may come ? I think its well worth holding on to this one !.....

tradingup 26 Jul 2017

DARBY GO DARBY GO!!!

pyueck 24 Jul 2017

Re: SOLD Can't blame you for selling.Management have shown themselves to be totally unable to monetise some of the best known well loved brands in the UK (Hovis, OXO, Bisto, Ambrosia, Mr Kipling). They just about post half respectable revenue figures by having a decent tie up with Cadburys for their cakes, who are 100 times better at marketing than PFD. The rejection of the takeover was a joke, not only for them to reject a very good offer, but also to make all these promises to shareholders about future performance, only for under a year later to totally pull back from and claim a 3.1% decline is what they expected. I cannot see what the tie up with Nissin is adding to the company beyond making it harder for the company to be taken over. Why management last year clearly favoured Nissin over McCormick is beyond me, maybe Darby just wanted to save his job.The success of Quorn post PFD sale shows in my opinion how good management can make a brand much more successful than under PFD. I genuinely believe that PFD still has some pretty great brands, however they are quickly looking tired and dated and their value being destroyed by this incompetent management.I think if Darby was replaced by somebody who actually has demonstrated an ability to grow a brand rather than destroy them the shareprice would be up a lot! Darby seems intent though on clinging on and promising a brighter future, well a message to you Mr Darby, nobody believes your promises any more.If things continue as they are can't see things getting any better. However their brands are good and surely at some time somebody will buy either the brands or the company at a half decent price.

Broncomaniac 24 Jul 2017

SOLD Almost two years to the day since I first bought in and I've had enough, I'm out.I'd been holding on in the hope of McCormick making another bid, but with their recent purchase of RB foods, I can't see them coming back anytime soon.Last night I read the FT article 'Premier Foods - not even second class' and it was the final bit of persuasion I needed to dump this dog. I'm concerned that the products do not have enough pricing power to pass on inflation in supplier prices onto consumers, so I see a further margin squeeze is coming. Also I have zero confidence in management, they should be kicked out for obstructing the McCormick bid.

alfa-spider 24 Jul 2017

missed opportunity [link]

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