Premier Foods (PFD)

Sector:

Food

Index:

FTSE Small Cap

45.20p
   
  • Change Today:
      0.95p
  • 52 Week High: 46.60p
  • 52 Week Low: 18.46p
  • Currency: UK Pounds
  • Shares Issued: 848.26m
  • Volume: 991,776
  • Market Cap: £383.41m
  • RiskGrade: 385

Premier Foods squeezes out H1 profit thanks to strategic partnerships

By Michele Maatouk

Date: Wednesday 15 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Mr Kipling and Paxo owner Premier Foods squeezed out a profit in the first half of the year as revenue rose thanks to its strategic partnerships with Mondelez and Nissin.
In the 26 weeks to 30 September, the group made a pre-tax profit of £300,000 compared to a loss of £55.6m in the same period a year ago, as revenue rose 1.5% to £353.3m. Meanwhile, net debt was reduced to £535.35m from £556m.

Premier said its strategic partnerships with Nissin and Mondelez International are "working very well", together delivering over 40% of the group's revenue growth in the second quarter.

The company completed the signing of the new Mondelez International Global Strategic Partnership in the first half of the year and through its partnership with Nissin, Batchelors is now the fastest growing major brand in Premier's portfolio following the launch of convenient pot format products such as Super Noodle Pots.

Chief executive officer Gavin Darby said: "A key highlight was our strong performance in the second quarter, with volume driven revenue up +6.2% after a challenging first quarter. Our international business continues to go from strength to strength and saw revenue growth of +23% in the first half of the year.

"The cost efficiency programme we launched earlier this year is on track to deliver the expected benefits. We completed the issue of a new £210m high yield bond in June and our net debt was £21m lower than the same point last year; a little ahead of our plans. Overall, we continue to expect the business to make progress in the second half of the year and our expectations for the full year remain unchanged."

At 0818 GMT, the shares were up 5.5% to 38.50p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Premier Foods Market Data

Currency UK Pounds
Share Price 45.20p
Change Today 0.95p
% Change 2.15 %
52 Week High 46.60p
52 Week Low 18.46p
Volume 991,776
Shares Issued 848.26m
Market Cap £383.41m
RiskGrade 385

Premier Foods Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.67% above the market average75.67% above the market average75.67% above the market average75.67% above the market average75.67% above the market average
86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average
Price Trend
82.52% above the market average82.52% above the market average82.52% above the market average82.52% above the market average82.52% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average
Income Not Available
Growth
9.26% below the market average9.26% below the market average9.26% below the market average9.26% below the market average9.26% below the market average
40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average40.00% above the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Premier Foods Dividends

No dividends found

Trades for 22-May-2020

Time Volume / Share Price
16:35 113,664 @ 45.20p
16:29 701 @ 44.60p
16:29 1 @ 44.60p
16:29 1,357 @ 44.60p
16:29 18 @ 44.60p

Premier Foods Key Personnel

CEO Alex Whitehouse
CFO Duncan Leggett

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