Does anyone know this company? It was highlighted in this weekend's paper and I wonder if it is about to fall a lot more ( eg with the prospect of a Rights Issue, etc), and that might be a good time to get in - when they have some cash.

Are they beholden to Supermarkets, I wonder - could this mean they have little "pricing-power"? - That's something that any go-go business needs, perhaps along with a USP - although this is hardly likley in the "food" industry, is it?

I'm out - so probably 7p by the end of play :-)

the normal thing is retracement after the sharp rise, but once it starts to go higher again,
there is good chance that it will move higher than before

Premier Foods Appoints Mark Moran as Chief Financial Officer

Premier Foods, home to some of Britain's favourite food brands, today announces the appointment of Mark Moran (51) as Executive Director and Chief Financial Officer. Mark will join the Group in early December and will replace Jim Smart who will step down from the Board on Mark's arrival. Jim has agreed to remain with the company until early 2012 to ensure a smooth handover to his successor.

Jim Smart has led the Group's financial strategy since joining Premier Foods in 2009 and has made a major contribution to the company. He agreed with the company that 2012 would be the right time to step down as the company's new business plan is finalised and as its new financing arrangements are put in place.

Prior to joining the company, Mark Moran's most recent appointment was as Group Finance Director of SSL International Plc, a market leader in consumer healthcare, recently acquired by Reckitt Benckiser. He has extensive experience of working with global brands gained from his six years at SSL including strategic and day-to-day financial management, executive Board responsibilities and investor relations. Mark was a non-executive director at Brixton Plc between 2008 and 2009 where he chaired the Audit Committee.

His earlier career included senior roles at Porvair Plc and Caradon plc. Mark trained as a Chartered Accountant with Arthur Andersen.

Commenting on the changes, Michael Clarke, Chief Executive Officer, said:

"I am grateful for Jim's personal support for me during my first months with the company and for his broader contribution over the past few years. I wish him every success in his future career.

"Mark Moran will be a terrific addition to the team. His expertise will be invaluable as we continue our journey to rebuild the company and restore growth. I'm delighted that our new leadership team is now complete"

Jim Smart said:

"I've enjoyed my two years with Premier Foods. I am confident that Michael and his team can return the business to growth. I felt it was the right time to hand over to a new person to help Michael lead the company in the next stage of its recovery. I wish the company every success."

Looks like we are "off" again.

Another bounce day, next stop 7p!!

off again today!!

Norges > 4%

Premier boss Michael Clarke backed by city

Premier Foods boss Michael Clarke has received a resounding vote of confidence from city analysts, six months into his role, as he continues his plan to guide the firm out of trouble.

Premier Foods plc

17 January 2012

Premier Foods Plc ("the Group")

Premier Foods announces update on growth plan, increased cost reduction target and 2011 trading

17 January 2012

Premier Foods today announces further progress on delivering its plan to restore profitable growth in line with the five priorities that it set out on 7 October last year:

-- Investing behind eight Power Brands
-- Divesting selected businesses to sharpen focus
-- Strengthening capabilities, especially sales and marketing
-- Right-sizing and reducing the company's cost base
-- Agreeing a re-financing package with the banks
The company continues to gain momentum against each of these priorities.

Under the direction of the new leadership team, detailed plans have been put in place to focus investment behind growing the eight Power Brands of Hovis, Ambrosia, Mr. Kipling, Sharwood's, Loyd Grossman, Bisto, Oxo andBatchelors. The Group is planning to double marketing spend behind these brands in 2012 and six of the Power Brands will be back on TV with advertising in the first quarter, spearheading a full programme of new product innovation, promotions and marketing throughout the year.

To support the new focus on Power Brands, the Group has accelerated the divestiture of non-core businesses, completing the sale of its Brookes Avana chilled food business and announcing the agreement to sell its four Irish grocery brands in recent weeks. Further selected businesses are expected to be divested in 2012 increasing the company's focus on its Power Brands and additionally helping deleverage the business.

As the size of the portfolio is reduced, the cost base of the company will be adjusted to reduce complexity and reflect the smaller size of the business. In October, the Group stated that it would significantly exceed the GBP20 million cost savings by 2013 that it announced at the 2011 Half Year. The Group now expects to more than double the original GBP20 million cost reduction target to over GBP40 million by 2013 by creating a stronger and more efficient business that will help release funds to invest behind driving its recovery and growth plans. To achieve this target, every aspect of the company's costs is being reviewed and it is expected that a series of cost saving programmes will be initiated throughout the year that will result in reductions in the workforce, mainly from overhead functions. These reductions, which will be subject to appropriate consultations, are expected to amount to approximately 5% of the company's current workforce of around 12,000 employees.

The Group also confirms that the key Christmas trading period has been in line with its expectations and that, accordingly, management expects the overall Group financial results for 2011, both reported and underlying, to be at the lower end of current market expectations.

Discussions with the company's banks over a re-financing package continue to make progress and it is anticipated that an appropriate agreement will be reached soon.

Commenting on progress, Michael Clarke, Chief Executive Officer, said:

"We continue to deliver on our plans to stabilise the business and invest in our recovery and future growth.

While decisions to reduce the workforce are always difficult, I'm convinced we are taking the right steps in the long term interests of the business, employees and our stakeholders."

A full presentation of the 2011 Full Year results and the company's Business Plan, including information on cost saving programmes, is planned to be provided to the market prior to the end of March.

I can't glean much from the statement - but the markets seem to approve - in auction +13.2%

I've bought back in here this morning.

Premier Foods to double marketing spend to £41m

Premier Foods plans to double marketing spend behind its power brands this year as part of its long term recovery plan to improve the business performance, while slashing costs in other areas.

Another 10% up today, let's hope we aare on a roll !!

Mind the gap!

bought in today...

Flying again today, more than 11% as I write & showing signs of breaking the 9p barrier.

Being a holder from 4.10p I now can consider myself to be "in the money", (if I sell of course)

Sure that PFD has a long way yet to run.

Gap closed?

skinny I have pfd what do you mean by gap is closed.

thanks

The gap in the chart - see post 134 - at the time of posting, the gap was still present - now it looks to be filled.

Bought in y'day at 7.94p so v happy with today's rise.... more to come in the couple of months methinks..

Jam maker Duerr's circles rival Hartley's

Jam maker Duerr's is mulling a potential acquisition of rival Hartley's, which has been put on the block by embattled Premier Foods group. Family-owned Duerr's has expressed an interest in buying the Cambridgeshire-based Hartley's jam and jelly brand, which has been valued at £170m-£200m.