Premier Foods (PFD)

Sector:

Food

Index:

FTSE Small Cap

80.00p
   
  • Change Today:
    -0.80p
  • 52 Week High: 83.00p
  • 52 Week Low: 18.46p
  • Currency: UK Pounds
  • Shares Issued: 849.06m
  • Volume: 1,183,596
  • Market Cap: £679.25m
  • RiskGrade: 354

Premier Foods hit by pension charge; launches new plant-based range

By Michele Maatouk

Date: Tuesday 14 May 2019

LONDON (ShareCast) - (Sharecast News) - Mr Kipling and Oxo owner Premier Foods said on Tuesday that it swung to a statutory full-year loss as it took a hit from an anti-discrimination ruling on women's pensions.
In the year to 30 March 2019, adjusted pre-tax profit rose 12.1% to £88m on revenue of £824.3m, up 0.6% on the previous year. However, on a statutory basis, the company made a pre-tax loss of £42.7m versus a profit of £20.9m as it recognised £41.5m of costs associated with the equalisation of guaranteed minimum payments for pensions accrued between 1990 and 1997.

Mr Kipling put in a solid performance, with revenue up 12% overall and 10% and 48%, respectively, in the UK and international markets.

In the UK, it benefited from a major brand relaunch, including an updated pack design and brand logo, television advertising, and new product development such as Unicorn and Flamingo slices. Internationally, Mr Kipling saw success in Australia and the USA.

The company's international business saw revenues fall 12.5% during the year, however, as Cadbury cake sales were dented by high stock levels in Australian customers' supply chains, a situation which Premier said has now normalised.

The group also announced the launch of a new health brand called 'Plantastic' as it looks to target the growing trend for plant-based foods and vegan products. The products are planned for launch during the course of this year in the desserts, cake and soup categories. They will be sourced from a combination of in-house manufacturing and co-manufacturer partners.

Chief executive Alastair Murray said: "While the first half of this year is expected to start slowly, reflecting the timing of consumer marketing investment, the group anticipates that with its encouraging new product innovation programme and strong customer relationships, it will make further progress in the year."

At 0930 BST, the shares were down 1% at 35.44p.

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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 80.00p
Change Today -0.80p
% Change -0.99 %
52 Week High 83.00p
52 Week Low 18.46p
Volume 1,183,596
Shares Issued 849.06m
Market Cap £679.25m
RiskGrade 354

Premier Foods Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
62.30% above the market average62.30% above the market average62.30% above the market average62.30% above the market average62.30% 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
96.34% above the market average96.34% above the market average96.34% above the market average96.34% above the market average96.34% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
66.77% below the market average66.77% below the market average66.77% below the market average66.77% below the market average66.77% below the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Growth
14.84% below the market average14.84% below the market average14.84% below the market average14.84% below the market average14.84% below the market average
31.03% above the sector average31.03% above the sector average31.03% above the sector average31.03% above the sector average31.03% 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 09-Jul-2020

Time Volume / Share Price
14:52 6 @ 79.80p
14:52 2,254 @ 80.00p
14:52 1,089 @ 80.00p
14:52 528 @ 80.00p
14:51 2,656 @ 80.00p

Premier Foods Key Personnel

CEO Alex Whitehouse
CFO Duncan Leggett

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