Premier Foods (PFD)

Sector:

Food

Index:

FTSE Small Cap

84.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 93.80
  • 52 Week Low: 18.46
  • Currency: UK Pounds
  • Shares Issued: 849.44m
  • Volume: 748,424
  • Market Cap: £717.78m
  • RiskGrade: 310

Mr Kipling sales boost Premier Foods profits

By Michele Maatouk

Date: Tuesday 12 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Premier Foods posted a rise in first-half pre-tax profit on Tuesday as it reaped the benefits of its relaunch of Mr Kipling and strong sales from its Nissin ranges.
In the half-year to 28 September, adjusted pre-tax profit was up 5% to £31.7m on revenue of £366.7m, up 2.4% on the first half of last year.

Net debt fell to £470.7m from £509.5m and the company said it was on track to meets its 3.0x net debt/EBITDA ratio by year end.

Branded sales rose 4.3% to £309.7m, driven by Mr Kipling, which saw sales rise 8% during the half as it benefited from a major brand relaunch and new TV advertising. Non-branded sales were down 6.8% to £57m, however.

Premier said its Nissin Soba Noodles & Cup Noodles continued their "exceptionally strong growth trajectory" in the first half, with sales growing 111% from the same period a year ago.

Recently-appointed chief executive Alex Whitehouse said he was "encouraged" by the "strong start to the year".

"With a better H1 than planned, we are confident in our expectations for progress in the full year. As we look a little further ahead, and in light of our disciplined and consistent track record of net debt reduction, we start to see options for our future deployment of cash," he said.

At 1135 GMT, the shares were up 8.1% at 36.06p.

Email this article to a friend

or share it with one of these popular networks:


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 84.50p
Change Today 0.50p
% Change 0.60 %
52 Week High 93.80
52 Week Low 18.46
Volume 748,424
Shares Issued 849.44m
Market Cap £717.78m
RiskGrade 310

Premier Foods Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
61.07% above the market average61.07% above the market average61.07% above the market average61.07% above the market average61.07% 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
67.38% below the market average67.38% below the market average67.38% below the market average67.38% below the market average67.38% below the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average
Growth
13.95% below the market average13.95% below the market average13.95% below the market average13.95% below the market average13.95% below the market average
24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% 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 05-Aug-2020

Time Volume / Share Price
16:02 44,536 @ 84.70p
15:48 35,092 @ 85.04p
16:35 133,418 @ 84.50p
16:29 317 @ 85.10p
16:29 212 @ 85.10p

Premier Foods Key Personnel

CEO Alex Whitehouse
CFO Duncan Leggett

Top of Page