Premier 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
Read moreBig 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
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