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Premier Foods PLC (PFD.L)

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Latest Key Developments (Source: Significant Developments)

Premier Foods Q1 sales fall
Thursday, 20 Jul 2017 02:00am EDT 

July 20 (Reuters) - Premier Foods Plc :Q1 trading update.Q1 sales down (3.1 pct), in line with group's expectations for quarter.Q1 international sales up +20 pct.Expectations for progress in full year remain unchanged."Q1 sales were lower than last year, as we expected, primarily due to lower sales volumes in grocery categories, notably desserts"."Expect to report positive sales growth in q2, broadly flat sales in first half".Anticipates stronger trends in q2, beginning to see reversal of reduction in multi-buy promotions which impacted grocery volumes.Remains confident of delivering positive sales growth in quarter two and broadly flat sales for first half.sg&a re-sizing programme is now complete and cost reductions, which are expected to deliver savings of 10 million stg this FY.Group's revolving credit facility with its bank syndicate are expected to be approximately 7 mln stg in current financial year.  Full Article

‍Oasis Management raises stake in Premier Foods to 8.84 pct -filing
Thursday, 29 Jun 2017 11:18am EDT 

June 29 (Reuters) - Premier Foods Plc : Regulatory filing​::‍Oasis Management Company Ltd discloses 8.84 pct voting rights in Premier Foods Plc - regulatory filing​.  Full Article

Premier Foods says regularly reviews options, group strategy unchanged
Thursday, 29 Jun 2017 11:00am EDT 

June 29 (Reuters) - Premier Foods Plc ::Statement re: press report.‍Notes recent comments in press regarding a review of options for group.‍Regularly reviews options to deliver value for all its stakeholders​.Reviews carried out in ordinary course of business as part of group's standard planning cycle, also on ad hoc bases, and may involve external advisors​.‍Has made no changes to its strategy since strategic update communicated in our preliminary results announcement on May 16.‍Will release its Q1 trading update for year ending March31, 2018 on July 20, as planned​.  Full Article

Premier Foods says renews partnership with Mondelez International
Monday, 8 May 2017 02:04am EDT 

May 8 (Reuters) - Premier Foods Plc ::Agrees renewed relationship with Mondelēz International for strategic global partnership for Cadbury cake.Signed 'heads of terms' for a strategic global partnership with Mondelēz International.Deal to renew company's long-standing licence to produce and market Cadbury branded cake and Ambient dessert products.Once finalised, new licence will run until 2022, with an option for company to extend this to 2025.Already developing plans to launch Cadbury cake in two new significant markets in 2017/18.  Full Article

Premier Foods says 2016 actuarial valuations agreed with all UK pension schemes
Tuesday, 28 Mar 2017 02:00am EDT 

Premier Foods Plc : Pensions update . 2016 actuarial valuations now agreed with all UK pension schemes . Cash payments to schemes reduced by further £32m over next three financial years . Agreed a schedule of pension deficit cash contributions with trustees of company's pension schemes . Payments fixed for nearly six years; from april 2014 until december 2019 . No deficit contributions to rhm schemes in recovery plan . Reductions and re-phasing of deficit contributions to premier foods' schemes 1 .Administration costs over next three years to be part funded by rhm schemes by £2m per annum.  Full Article

Premier Foods names Daniel Wosner from Oasis Management as non-exec director
Wednesday, 1 Mar 2017 02:00am EST 

Premier Foods Plc : Appointment of Daniel Wosner as a non-executive director of company from 1 st March 2017 . Daniel Wosner is managing director and head of europe at oasis management company, company's second largest shareholder .Oasis will acquire in aggregate 10 pct of ordinary share capital of company by 30 th June 2018.  Full Article

Premier Foods says Q2 sales fall 5.4 pct
Wednesday, 12 Oct 2016 02:00am EDT 

Premier Foods Plc : Q2 trading update . Q2 sales fell 5.4 percent to 172.5 million stg . In Q2 of year, total group sales were £172.5m, a 5.4 pct decline on prior year . Group's profit expectations for full year remain unchanged due to careful management of costs . Grocery sales were 9.5 pct lower than prior year in quarter . Sweet treats demonstrated accelerating momentum, reporting a sixth consecutive quarter of growth at 6.4 pct .Sales growth in second half of FY16/17 is expected to be weighted to Q4 and in range of 2-4 pct.  Full Article

Premier Foods says full-year forecasts unchanged
Thursday, 21 Jul 2016 02:08am EDT 

Premier Foods Plc : Q1 group sales up +1.9%; branded sales up +0.8% .Expectations for full year remain unchanged.  Full Article

Premier Foods buys remaining shares in Knighton Foods
Tuesday, 24 May 2016 11:52am EDT 

Premier Foods Plc : Acquisition of remaining shares in Knighton .Has today acquired, for a nominal sum, 51 pct stake in Knighton Foods Limited that it did not previously own.  Full Article

Premier Foods Q4 sales up, to look at streamlining ops
Tuesday, 17 May 2016 02:01am EDT 

Premier Foods Plc : Full year group sales +0.6%; branded sales flat . Net debt reduced to £534.2m from £584.9m - includes consolidation of knighton . fy16/17 sales growth guidance raised to 2-4% . In fy16/17 group plans to spend £42-£44m on consumer marketing, . Expertise will be used to review current manufacturing processes to identify areas for improvement which are expected to deliver increased line efficiencies. . In logistics, group is reviewing options in both its transport and warehousing operations which may lead to changes in configuration of its network. . Hm government has recently implemented a national living wage (nlw) for all employees above age of 25 which was effective from april 2016. Company expects there will be a relatively small increase in labour costs in fy16/17 . Q4 sales rose 1.4 percent to 185.5 million stg .Fy revenue from continuing operations 771.7 million stg versus 964.3 million stg year ago.  Full Article

UPDATE 2-Premier Foods Q1 sales dip but signals revival

July 20 Premier Foods Plc, owner of Mr Kipling cakes, Bisto gravy and other British brands, reported a drop in first-quarter sales on Thursday but said it was confident that growth would return in the next quarter.