Premier Foods puts Hovis into JV, sees FY profits above hopes
27th Jan 2014 07:31
The maker of a string of iconic British brands such as Hovis bread, Mr Kipling cakes and Ambrosia rice plans to hive off the bread business into a stand-alone joint venture. Premier Foods also said adjusted annual pre-tax profit would be ahead of hopes despite a 1% fall in sales of its key brands i
Read moreSunday newspaper roundup: Morrisons, BP, Premier Foods
12th Jan 2014 16:05
Morrisons aims to return up to 800m pounds to investors by selling real estate, the Sunday Times said. The supermarket chain's property holdings are worth 9bn pounds and it owns 90 per cent of the portfolio. Big shareholders think Morrisons could cut its freehold ratio to 80 per cent and stay overwh
Read moreSunday newspaper round-up: Premier Foods, Standard Chartered, RBS
22nd Dec 2013 16:24
Premier Foods is planning a 300m pounds rights issue for early in the new year as it seeks to fend off pressure from US fund Apollo, the Sunday Times reported. The maker of Hovis bread, Mr Kipling cakes and Sharwoods is also likely to announce a pension holiday and a big bond issue as part of Chief
Read moreTuesday broker round-up UPDATE
10th Dec 2013 09:43
Amlin: Westhouse Securities moves target price from 470p to 480p and reiterates an add rating. Antofagasta: Credit Suisse reduces target price from 900p to 750p, while upgrading to neutral. UBS cuts target price from 845p to 765p retaining its neutral rating. Ashley House: WH Ireland moves target
Read moreThursday broker round-up UPDATE
5th Dec 2013 08:15
AMEC: Canaccord Genuity raises target price from 1125p to 1300p upgrading from hold to buy. AZ Electronic Materials: Canaccord Genuity increases target price from 354p to 404p, while downgrading from buy to hold. BAE Systems: Deutsche Bank takes target price from 415p to 425p keeping a hold recomm
Read moreSunday newspaper round-up: UK economy, RBS, Tesco
1st Dec 2013 16:13
The Office for Budget Responsibility (OBR) will say the economy is growing at twice the rate it forecast in March, the Sunday Telegraph and Sunday Times reported. The OBR will say 2013 growth has jumped to 1.4% from the 0.6% it predicted eight months ago. Next year the economy will grow by about 2.3
Read morePremier Food hunting for bread partner
6th Nov 2013 14:21
Branded foods group Premier Foods confirmed press speculation that it was looking to sell a slice of its bread business to private equity groups. The owner of Mr Kipling, Bisto, Oxo and Hovis said it has appointed financial adviser Ondra Partners "to assist in developing investment options for the
Read moreMixed third quarter at Premier Foods
31st Oct 2013 08:35
- Third quarter sales slip - Slower growth at Grocery Power Brands - Reiterates full year guidance Branded food producer and ingredients firm Premier Foods said total underlying sales slipped in the three months ending September 31st as it sticks to its full year expectations. The producer of bran
Read moreFriday broker round-up UPDATE
11th Oct 2013 08:51
Barratt Developments: Deutsche Bank moves target price from 365p to 391p reiterating its buy recommendation. Bovis Homes Group: Deutsche Bank raises target price from 901p to 1001p and keeps a buy recommendation. Croda International: Liberum Capital downgrades to hold with a target price of 2480p.
Read morePremier Foods shares plunge as CFO exits
24th Sep 2013 10:19
Premier Foods confirmed that Chief Financial Officer Mark Moran has decided to leave the company and will be replaced at the end of September by former Dairy Crest Finance Director Alastair Murray. Shares of Premier Foods plunged as much as 8% in early trading on concern about the impact of Moran's
Read moreThursday broker round-up UPDATE
12th Sep 2013 09:01
African Minerals: Deutsche Bank cuts target price from 550p to 450p and retains a buy recommendation. Citi lowers target price from 380p to 320p keeping a buy recommendation. Aggreko: Deutsche Bank reduces target price from 2100p to 1870p, while staying with its buy recommendation. ARM Holdings: G
Read moreWednesday broker round-up UPDATE
11th Sep 2013 08:14
Advanced Medical Solutions: Panmure Gordon moves target price from 90p to 102p and reiterates a buy recommendation. Amara Mining: Numis shifts target price from 40p to 45p retaining its buy recommendation. Anite: Numis cuts target price from 155p to 128p and downgrades to hold. Ashmore Group: Ban
Read moreBroker tips: IAG, M&S, Premier Foods
27th Aug 2013 11:44
Investec has downgraded its rating for British Airways owner International Airlines Group (IAG) from 'buy' to 'hold' after strong gains seen across the airlines sector since the start of the year. "European airlines have benefited from reduced capacity and a flattening of fuel prices in 2013. Stron
Read moreBroker snap: Credit Suisse sees 'substantial upside' at Premier Foods
27th Aug 2013 10:16
Credit Suisse has lifted its recommendation for food manufacturer Premier Foods from 'neutral' to 'outperform' and raised its target price from 100p to 155p. This Swiss bank said that Premier Foods has begun to stabilise and is even beginning to show some signs of growth. It said: "Valuing a busi
Read moreTuesday broker round-up UPDATE
27th Aug 2013 09:14
Admiral Group: JP Morgan ups target price from 1108p to 1122p staying with its underweight rating. Antofagasta: Investec places its target price (prev.: 707p) under review and retains a sell recommendation. Berendsen: HSBC increases target price from 745p to 900p and reiterates a neutral rating.
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