Premier Foods urged by major shareholder and suitor McCormick to 'engage'
24th Mar 2016 16:20
(ShareCast News) - US spice giant McCormick has appealed to investors in Premier Foods to consider its bid for the Mr Kipling and Ambrosia Creamed Rice owner, and said it might be willing to up its offer if the UK company's board were willing to "engage". On Wednesday Premier revealed it had rejecte
Read moreJapanese noodle giant takes stake in Premier Foods, rival suitor fights back
24th Mar 2016 08:11
(ShareCast News) - Mr Kipling and Oxo cubes owner Premier Foods has announced that Japanese noodle giant Nissin has agreed to acquire 17.27% stake from an existing shareholder, though this move received stinging criticism from major shareholder Standard Life and an appeal to shareholders from US sui
Read morePremier Foods spurns spicy McCormick bid, proposes noodle tie-up
23rd Mar 2016 08:12
(ShareCast News) - Shares in Premier Foods rose 44% to just shy of a year's high as it revealed it had rejected a takeover approach from US herbs and spices giant McCormick & Company and instead proposed a tie-up with Japanese noodle group Nissan Foods. Although McCormick made a 60p-per-share offer,
Read morePricing pressures to nibble at UK packaged food suppliers' profits, Moody's says
4th Feb 2016 15:19
(ShareCast News) - Difficult trading conditions for packaged food suppliers in the UK will persist in 2016 as a result of the ongoing price war between food retailers, according to Moody's. However, in a note to clients on Thursday, the ratings agency said downgrades among suppliers are "not a given
Read morePremier Food leaves sour taste with third quarter result
21st Jan 2016 08:58
(ShareCast News) - Mild winter weather and a decision to reduce promotional activity on some products led to Premier Foods disappointing investors with a decline in branded sales over Christmas. Branded sales fell 1.0% in the 13-week third quarter to 2 January, which was an understandable letdown af
Read moreConsumer companies will suffer from exposure to EMEA, says Moody's
7th Dec 2015 14:00
(ShareCast News) - Companies in consumer-facing industries like beverages and clothing with strong exposure to Europe, the Middle East and Africa (EMEA) are going to lag global sales and profit growth in 2016, Moody's has warned. The credit agency said the slowdown in emerging markets, increasing pr
Read morePremier Foods returns to growth in sales of Bisto and Mr Kipling
10th Nov 2015 11:08
(ShareCast News) - First half results from Premier Food were boosted by the first quarterly increased in branded sales for two years as investment decisions paid off and margins spiked at the 'Sweet Treats' business. The Bisto, Oxo Cubes and Mr Kipling owner reversed last year's interim loss with an
Read moreSugar taxes and food promotion clampdown could follow PHE obesity report
22nd Oct 2015 16:24
(ShareCast News) - A report by UK public health officials has found sugar taxes are an effective tool to combat obesity and has called for restrictions on food manufacturers and supermarkets offering deals on unhealthy foods and marketing to children. The report, 'Sugar Reduction: The evidence for a
Read morePremier Foods sales hit by early Easter
23rd Jul 2015 12:12
(ShareCast News) - Premier Foods said the business environment remained challenging as it posted a drop in sales for the 13 weeks ended 4 July. The company, which owns the Mr Kipling and Bisto brands, posted sales of £166.2m, with branded sales down 1.4% and total group sales 1.6% lower than last ye
Read moreFood retailers defend sugar record after SACN report slashes sugar guidance
17th Jul 2015 10:38
(ShareCast News) - A government-backed report on carbohydrates has called for the British recommended daily allowance of sugar to be cut in half, which has forced retailers to robustly defend their efforts to cut the sugar content and calorie counts of their products. As expected, the Scientific Adv
Read morePremier Foods to invest £20m in Mr Kipling venture
3rd Jul 2015 09:55
UK food manufacturer Premier Foods will unveil a new £20m production line at its Mr Kipling bakery in Carlton, Barnsley on Friday. The move followed the success of Mr Kipling, after it was relaunched on 2014 with new package, advertising and promotions, and is expected to double the company's snack
Read moreInvestec raises Premier Foods rating to 'buy', warns revenue lift could be short-lived
17th Jun 2015 10:26
Investec has lifted its rating for Premier Foods from 'hold' to 'buy', but warned the group's revenue improvement could be short-lived. Premier Foods shares traded at 41.93p, up 2.91% on Wednesday at 10.34, after the broking firm increased the food manufacturer's price target from 47p to 51p. Inve
Read morePremier Foods director tops up stake after results underwhelm
26th May 2015 14:59
Ian Krieger, a senior independent director at Premier Foods, raised his stake by a third just a few days after the foods producer underwhelmed the market with an in-line set of annual results. The company said on Tuesday that Krieger, who joined the board as a non-executive director in 2012, on Frid
Read moreThursday broker round-up
21st May 2015 13:01
Barclays: JP Morgan Cazenove reiterates overweight and 285p target. StanChart: Goldman sachs reiterates neutral. St.James Place: Numis reiterates add and 1050p target. Hargreaves Lansdown: JP Morgan Cazenove reiterates neutral and raises target to 1,100p from 1,050p. UK Mail Group: RBC Capital re
Read moreSector movers: Food stocks binned after Tate & Lyle profit warning
6th Feb 2015 14:49
Tate & Lyle was dampening the food sector in London on Friday after the sweeteners maker disappointed investors with its second profit warning in just four months. Tate & Lyle said it now expects adjusted pre-tax profits for the year ending 31 March to be below previous guidance of £230m-245m. The
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