Premier Foods (PFD)

Sector:

Food

Index:

FTSE Small Cap

40.00p
   
  • Change Today:
      2.35p
  • 52 Week High: 40.75
  • 52 Week Low: 29.80
  • Currency: UK Pounds
  • Shares Issued: 846.66m
  • Volume: 1,118,135
  • Market Cap: £338.67m
  • RiskGrade: 202
  • Beta: 0.26

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 40.00p
Change Today 2.35p
% Change 6.24 %
52 Week High 40.75
52 Week Low 29.80
Volume 1,118,135
Shares Issued 846.66m
Market Cap £338.67m
Beta 0.26
RiskGrade 202

Premier Foods Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.11% above the market average93.11% above the market average93.11% above the market average93.11% above the market average93.11% above the market average
93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average
Price Trend
8.42% above the market average8.42% above the market average8.42% above the market average8.42% above the market average8.42% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Income Not Available
Growth
17.45% below the market average17.45% below the market average17.45% below the market average17.45% below the market average17.45% below the market average
26.67% above the sector average26.67% above the sector average26.67% above the sector average26.67% above the sector average26.67% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
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-Nov-2019

Time Volume / Share Price
13:22 1,198 @ 39.97p
13:14 16,906 @ 39.97p
13:01 10,000 @ 40.03p
12:59 61,207 @ 40.03p
12:59 25,000 @ 40.03p

Premier Foods Key Personnel

CEO Gavin Darby
CFO Alastair S N Murray
CEO Alex Whitehouse

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