Big four supermarkets will cut small brands and back big names, says Premier Foods CEO
23rd Jan 2015 11:42
Premier Foods, of Mr Kipling cake fame, is about to win more shelf space in the battle of the 'big four' supermarkets, according to chief executive Gavin Darby. The larger supermarket chains will cut costs by reducing their product range, Darby suggested, giving better-known brands staying power whi
Read moreBroker tips: Supermarkets, Oil services, Sky, Premier Foods
6th Jan 2015 12:23
After one of the worst years in living memory for investors and management in the British supermarket sector, broker Shore Capital expects expect 2015 to be another "very active and interesting" year, though the sector's nadir "may have been reached". "Given the collapse of profits over the last 12-
Read moreCredit Suisse sees "signs of stability" at Premier Foods
6th Jan 2015 11:47
Upside risk at Premier Foods remains substantial, according to Credit Suisse which highlighted "signs of stability" in the food producer's sales. Credit Suisse cited Nielsen industry data as showing that sales were down 0.7% over the four weeks to 6 December and 0.5% lower over the last 12 weeks. Th
Read moreSunday newspaper round-up: BP, Sainsbury, Premier Foods
7th Dec 2014 17:59
BP will shed middle managers and put projects on hold as it deals with the falling price of oil, the Sunday Times reported. Finance Director Brian Gilvary told the paper headcounts were falling across all operations and that it would cut the estimated price of oil it uses for budgeting. Gilvary said
Read morePremier Foods will simplify controversial demand for investment from suppliers
7th Dec 2014 14:42
Premier Foods, the owner of some of the most famous UK's food brands, will drop its request for investment from suppliers but will ask for a discount on the prices it pays for goods. The firm came under fierce criticism from politicians at the end of last week, when it emerged that it had sent a let
Read morePremier Foods criticised for demanding money from suppliers
5th Dec 2014 08:13
Premier Foods, the owner of some of Britain's most popular food brands, has been criticised for asking suppliers to hand over money or face losing business with the company. The group's suppliers have received a letter requesting an "investment payment" and companies that do not pay up could be take
Read morePremier Foods chairman made modest addition to shareholding
13th Nov 2014 16:17
David Beever, the non-executive chairman of Premier Foods, has made a modest addition to his stake in the group with the addition of 30,000 shares at 38.50p. Spending £11,550 on the purchase, Beever's stake now stands at 304,881. The deal comes just a few weeks after the group reported lower sales
Read moreThursday broker round-up UPDATE
6th Nov 2014 10:01
Amec: UBS cuts target price from 1185p to 1150p, while its buy recommendation remains unchanged. Afren: Liberum Capital cuts target price from 121p to 95p and stays with its hold recommendation. Antofagasta: Canaccord cuts target price from 790p to 760p and reiterates a hold recommendation. Associ
Read moreTuesday broker round-up UPDATE
28th Oct 2014 09:18
Afren: Credit Suisse lowers target price from 132p to 115p staying with its outperform rating. African Barrick Gold: Westhouse moves target price from 230p to 240p and keeps an add rating. Anglo American: Investec reduces target price from 1603p to 1588p and keeps a buy recommendation. APR Energy:
Read morePremier Foods shares bounce after ShoreCap reiterates 'buy'
27th Oct 2014 14:59
In spite of a profit warning from Premier Foods last week, the share price of the Hovis, Mr Kipling and Oxo maker has quickly clawed its way back, helped in part by upbeat comments from Shore Capital. Premier Foods' stock slumped on Thursday after the firm said in a third-quarter trading update that
Read moreMonday broker round-up UPDATE
27th Oct 2014 10:05
Aquarius Platinum: Deutsche Bank shifts target price from 28p to 30p and maintains a buy recommendation. Dechra Pharmaceuticals: FinnCap ups target price from 800p to 840p and reiterates a buy recommendation. easyJet: Morgan Stanley moves target price from 1650p to 1665p leaving its overweight rati
Read moreLondon close: Supermarket share slump limits market gains
23rd Oct 2014 16:15
UK supermarkets held back London shares on Thursday after beleaguered Tesco reported lower first half profits and said the hole in its accounts was bigger than thought. Shares in Tesco led the FTSE 100 Index fallers with a 12p slump to 171p as the group said trading profits dropped 39.4% at constant
Read moreShorecap reviews Premier Foods after profit warning
23rd Oct 2014 13:52
Shore Capital is reviewing its advice to investors to buy Premier Foods shares after the Mr Kipling and Ambrosia rice group warned the City to expect profits at the lower end of hopes. Premier said shoppers' increasing preference for discount supermarkets over the established "Big Four" had hit thir
Read moreLondon midday: UK stocks decline after Tesco, Tullow and Unilever disappoint
23rd Oct 2014 10:34
Poorly-received updates from heavyweights Tesco, Tullow Oil and Unilever and a profit warning from Foxtons were weighing on UK markets on Thursday, though trading was choppy after some better-than-expected data from the Eurozone. The FTSE 100 was down 0.6% at 6,359 by noon, pulling back after reachi
Read moreLondon open: Tesco leads UK stocks lower as first-half profits drop
23rd Oct 2014 07:45
UK stocks fell sharply on Thursday morning, led by poorly-received updates from blue chips Tesco, Tullow Oil and Unilever and a profit warning from Foxtons. London's FTSE 100 index was down 0.7% at 6,355 in early deals, with ex-dividend stocks also providing a drag. Markets were also giving a mixed
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