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?

Update from reuters.....

UPDATE 2-Premier Foods cuts 900 jobs at breads division20 Nov 2012 - 13:15

* 900 jobs to go in breads division * To close two bakery sites in 2013 * To remove 130 distribution routes and close some operations * Part of ongoing overhaul of wider group * Shares up 3.3 percent (Adds background, CEO, analyst comments, shares) By Neil Maidment LONDON, Nov 20 (Reuters) - Premier Foods is to axe around 900 jobs at its bread division as part of an ongoing move to cut debt that will see Britain's biggest food producer close two bakeries and four distribution centres. The shake-up, designed to help the performance of Hovis - a key brand, will result in an initial charge of 28 million pounds ($45 million) that should be recovered through site disposals and more efficient operations, Premier Foods said. The changes to bread, which accounts for nearly 40 percent of group revenue, follow a groupwide overhaul and the sale of non-core businesses to help cut debt that stood at 1.27 billion pounds at end-June. "Having generated solid growth momentum in our grocery division, it is critical that we act to assure the long-term future of the bread division," chief executive Michael Clarke said on Tuesday. Premier Foods shares were up 3.3 percent to 95.7 pence at 1255 GMT, having risen 77 percent over the past 12 months. "Today's move looks logical and much better than the alternative of cutting prices in an attempt to regain lost volume, which would have risked the further erosion of margins," analysts at Panmure Gordon said. Bakery sites in Birmingham and Greenford will close in 2013, with distribution sites in Birmingham, Greenford, Mendlesham and Plymouth shut as it adjusts to lower volumes caused by the loss of a 75 million pound contract, reported to be with the Co-Op. Clarke told Reuters the remaining part of the bread business was more profitable and could grow in a more simple structure. Premier Foods, which owns brands such as Mr. Kipling cakes and Sharwood's curry products, has sold businesses such as Hartley's jams, Sun-Pat peanut butter and its pickles and sauces arm, including Branston, this year. Sales from its ongoing businesses, excluding milling, rose 2 percent in the three months to September. [ID:nL5E8LN1X6] "We have pleasantly surprised people every quarter on grocery as we have been on this journey of improving that business. The plan is to do the same thing on bread," Clarke said. The bread unit, which the group separated into a new division in August, has proved tricky for Premier Foods, which has had to manage high wheat prices. ($1 = 0.6284 pound) (Additional reporting by Kate Holton; Editing by Dan Lalor and Sarah Young) ((kate.holton@thomsonreuters.com)(+44 207 542 8560)) Keywords: PREMIERFOODS JOBS/

Bullish article below.

Well worth a read.


Premier Foods cuts: unions’ fury, City analysts applaud

News that debt-laden giant Premier Foods plans to axe 900 jobs, close two bakeries and restructure its distribution system was greeted with fury by unions and applause by City analysts.

http://www.foodmanufacture.co.uk/Business-News/Premier-Foods-cuts-unions-fury-City-analysts-applaud

PFD PREMIER FOODS

Premier Foods Broker Views
Date Broker Recommendation Price Old target price New target price Notes

23 Nov Investec Buy 96.88 125.00 125.00 Reiterates


SP target 125p.

Circ re. Sweet Pickles and Table Sauces disposal

Further to the announcement made on 30 October 2012, Premier Foods announces that, following approval by the Financial Services Authority on Friday 30 November 2012, a circular (the "Circular") relating to the proposed disposal of its sweet pickles and table sauces business located in Bury St. Edmunds, Suffolk to the Mizkan Group for an aggregate cash consideration of £92.5 million (the "Proposed Disposal") has been posted to shareholders.

The Circular contains a notice of a general meeting (the "Meeting") of Premier Foods to consider and, if thought fit, to approve a resolution authorising Premier Foods to complete the Proposed Disposal. Subject to shareholders approving the Proposed Disposal, the disposal is expected to complete on 2 February 2013.

The Meeting will be held at 9:00 am on Tuesday 18 December 2012 at Premier Foods' offices, Premier House, Centrium Business Park, Griffiths Way, St Albans, Hertfordshire, AL1 2RE.

PFD breakout.

Exceedingly good news!

Premier Foods renews Cadbury Cake License

Premier Foods announces today that it has renewed its long-standing licence to produce Cadbury™ branded cake products until at least June 2017 as part of its plan to boost growth in the cake category.

The new licensing deal negotiated with Cadbury owner, Mondelēz International, provides a platform to drive growth of Cadbury branded cakes and ambient desserts including the iconic Cadbury Mini Roll. In addition, the contract provides for the possibility, subject to approval, to the use of the group's other trademarks for cake and dessert products, opening the door to a range of additional growth opportunities.

going very well again.

Premier Foods plc (PFD)Dec 20, 2012Chief Pulse Comment by Michael A Clarke

"Renewing the Cadbury cake license through to at least 2017 is an important step as we seek to build on the momentum in our Grocery business," said Premier ceo Michael Clarke. more
The contract provides for the possibility, subject to approval, to the use of the group's other trademarks for cake and desserts, opening the door to a range of additional growth opportunities. "Renewing the Cadbury cake license through to at least 2017 is an important step as we seek to build on the momentum in our Grocery business," said Premier ceo Michael Clarke. "Cadbury is the fastest growing cake brand in the market and represents more than £60M in annual sale." Clarke added: "We intend to collaborate closely with Cadbury to expand consumer favourites such as Cadbury Mini Roll as well as leverage other Cadbury trademarks over time where this makes sense

IG INDEX STATS.....

95% of IG clients with open positions in this market expect the price to rise

5% of IG clients with open positions in this market expect the price to fall

Last Hour 100% Buys Today100% Buys ........This Week 63% Sells

Buyers flooding back in.

May be time to swim to the bank!

8-)

Go on lads.........up up up...

Trading Statement

Trading Update

Premier Foods today confirms that fourth quarter trading for 2012 was in line with its expectations reflecting a solid performance during the quarter and continuing the growth momentum behind its Power Brands seen in the first three quarters of the year.

The Company confirms its Full Year results for 2012 are expected to be in line with current market expectations.

17 Jan Premier Foods PLC PFD Investec Buy 119.50 119.00 125.00 - Under Review

PFD Premier Foods...

Broker Note out SP TARGET 125p

23 Jan Premier Foods PLC PFD Citigroup Neutral 116.88 117.75 125.00 125.00 Reiterates

Premier Foods plc (PFD)Jan 18, 2013 Analyst Comment by Martin Deboo at Investec Securities

Meanwhile, Investec Securities analyst Martin Deboo noted that the firm's "surprise" fourth quarter update indicated that trading during this critical period had been in line with management expectations. more
For 2013, the analysts predicted current pre tax profit of £58M and earnings per share of 18.3p, as the manufacturer continued to face considerable remaining debt and pension responsibilities. Shore Capital retained its ‘Hold' advice on Premier Foods' stock. Meanwhile, Investec Securities analyst Martin Deboo noted that the firm's "surprise" fourth quarter update indicated that trading during this critical period had been in line with management expectations. Deboo estimated that the manufacturer makes about 40% of its profits during the fourth quarter. "Given Premier Foods' heritage as serial disappointers on trading, we view this as reassuring, but note that plenty of challenges remain," said Deboo

Directorate Change

PREMIER FOODS ANNOUNCES APPOINTMENT OF GAVIN DARBY AS CHIEF EXECUTIVE OFFICER TO CONTINUE TRANSFORMATION

Premier Foods today announces that, following receipt of Michael Clarke's resignation, its Board of Directors has appointed Gavin Darby as Chief Executive Officer with effect from 4th February 2013.

Gavin Darby has a strong consumer goods pedigree and extensive senior executive experience. He spent fifteen years at the Coca-Cola Company in senior leadership roles before moving to Vodafone in 2001, where he was latterly CEO for its non-European joint ventures, the fastest growing segment of the company. His most recent role was as Chief Executive Officer of Cable & Wireless Worldwide plc, which he successfully turned around before negotiating its eventual sale.

This appointment follows Michael Clarke's indication to the Board that, having delivered the initial turnaround of the Company and set a course for future sustainable profitable growth, he was potentially considering moving on to pursue other business opportunities.

Michael Clarke will step down from the Board with immediate effect and has agreed to remain available to the Company until mid 2013 to ensure an orderly handover to his successor.

Skinny,

I wish you had posted the above on Friday.

I was spike out this am.

Thought about going back in, but thought that felt a bit like trying to prove myself.

Had a target of temporary target of 130, but thought it worth a lot more.

Something to watch for a while.

Sorry Fred :-)

I've had a S/B dabble @108.

Not sure how to read it?

1) proved himself and moving on to pastures green and more "fun".

2) appears to have proved himself and getting out before the boat sinks.

3) has a better off somewhere in the sun

must keep my hands in the cuffs for a while.

But just bought a few EMG to compensate.

Time again to watch and wait.

There is plenty of space between 120-130+

Broker Ratings from yesterday updated,
dont look at all bad.

Premier Foods Broker Views
Date Broker Recommendation Price Old target price New target price Notes

28 Jan Credit Suisse Neutral 0.00 120.00 120.00 Retains
28 Jan Shore Capital Hold 0.00 - - Reiterates
28 Jan Investec Buy 0.00 - - Under Review


N@P building Society.