marktime1231
18 Jan 2017
Re: Bad call by me on rejecting Mccormick Beever as grouchy chairman refused 67p while fantasist Darby persuaded the board he could do better. Cue warnings based on mild weather and profit slump blamed on input prices rising, for which internal cost cutting is like waving the flag of suurender. All within 9 months.Both have behaved really badly, I hope the big shareholders take action against these twoIf a bidder does not step in this month I will cut my loss, whether or not Darby gets chopped
The buzz
18 Jan 2017
Re: Trading update - For/ Against Buying... Ahem, may I draw listeners' attention to this post of 12-10-2016 where I talked about Tesco's fight over prices with Unilever? PFD lost its previous battle with Tesco so would have been a bit of putty in the hands of Tesco's buyers when PFD's costs had gone up. Surprise, surprise - PFD got lower prices than they needed to cover their price inflation and profits are down. My other post said that I would not buy more PFD unless the price went below 40p a share - not quite there yet but the journalists are going to have a field day here.Is there hope - yes - but salvation seems to be forever moving away like a carrot held in front of a donkey. Prices must go up for all food manufacturers as they have the same input costs - so profitability must slowly return. The other key thing to watch is what the pension deficit on individual pension pots is doing - that is the really big player here.The B
alfa-spider
18 Jan 2017
BBC News [link] down 10%The group is about to start a three-year cost cutting plan which aims to make savings of £10m by next year.
Nice to Michu
18 Jan 2017
Bad call by me on rejecting Mccormick I was clearly too bullish on PFD turnaround.. Apologies.PFD are very consistent in their underachieving.Including sterling weakness and ongoing good International sales performance a Euro or US competitor might again now see these as an appealing acquisition. (Bring back McCormick) I sold some more of my position here this morning.. had sold some previously too.. holding now small Good luck to all long sufferers who stay on board here..
Fred Prior
18 Jan 2017
Darby Must Go he is a liar and cannot deviser on his promises, the Nissa baloney was a red herring as he more than likely received a bung from them as everybody knows he cannot steer this ship in a straight line.Hopefully the instis will now realise he is a failure and invite someone more able into the chair, step up McCormicks its yours.
pharmaspecialist
09 Jan 2017
Re: Normally My guess is that the institutional investors are giving Premier one final chance to fix the company. Another guess is that Premier just needs to give Mr. Kurzius at McCormick a ring or email if they want to revive the takeover at 70p, particularly in the light of lower sterling. Kurzius stated in June that a "bigger and broader" acquistion strategy is part of McCormick's growth plans. He has recently been appointed chairman in addition to his post of CEO at McCormick so his power is growing. I know it's old news but it is perhaps worth revisiting Kurzius's comments after the bid was withdrawn.................“I will say what attracted us to Premier are the same kind of things that would attract us to any target,” Mr. Kurzius said. “Roughly two-thirds of their portfolio was flavor business that fits squarely in what we see is our core business: beloved, iconic brands … and they had been underleveraged through marketing support. Premier has a lot of debt. They have a heavy pension obligation that has not allowed them to make the kind of investments behind brands that we believe could drive growth. So we saw an opportunity there to take some fantastic brands, put marketing support behind them and grow them.” McCormick also saw the opportunity to grow some of Premier’s brands globally and to add scale to its business in Europe, the Middle East and Africa, Mr. Kurzius said.I can't help think that he sounds as though he remains enthusiastic even after the bid was withdrawn. I wonder if the recent decline in the McCormick's share price might be over concerns that the company may have another go at Premier at a higher price. Let's hope so!
Fred Prior
28 Dec 2016
Normally after kicking back an offer of over 70p and for the company to be trading at 46p 8 months later any institutional investor worth their salt would have called for Darbys head on a block or at least his resignation, neither appear to have happened and sales seem to be treading water (hopefully xmas will be different) so why is it that the Instis have kept shtum, are they some how aligned with him in a way that will benefit them and not us lowly pi?Come back McCormicks, all is forgiven....
tradingup
20 Dec 2016
CHRISTMAS CHEER! sp might be sagging but the pastry's rising nicely at the Mr Kipling factory in Yorkshire. That's where they're busy turning out three million mince pies this year according to Gregg Wallace of the BBC's Masterchef in a BBC2 special. ' The scale of production here is incredible' said Gregg.Also showed how they produce a million Yule logs year. tick in the box for Premier's PR team.
The buzz
08 Dec 2016
Life Expectancy - Pension Liability One of the causes of the increase in pension liability over recent years has been the relentless increase in life expectancy.[link] the mortality data has invariably meant a significant increase in the projected pension deficit. So one of the risks for PFD shareholders has been that revised mortality rates would increase the pension deficit. I have long suspected that 'modern' lifestyles for many Americans (and in turn UK citizens) of eating too much etc would curtail further increases in life expectancy. I have just read this article that confirms that suspicion:-[link] other words the life expectancy tables are unlikely to change much in the short term and consequently the risk of an increased liability is now very small.The B
tradingup
07 Dec 2016
Re: ZOMBIELAND such a big buy- and the sp drops again!
mexicoman
07 Dec 2016
Re: ZOMBIELAND Big buy from bank of America do they no something we don't?
item club
05 Dec 2016
Re: ZOMBIELAND I think we might have a short seller in our midst ?
tradingup
03 Dec 2016
ZOMBIELAND Cannot see any reason to hold these with no likelihood of uplift in sp for years to come andno divvi.struggling along with a diluted range of unappealing products having got rid of some of thebetter ones - Branstons Pickle, Sarstons Vinegar etc. They might get something from the Hovisdivestment but really its a pretty awful outlook except I suppose for the CEO and other execswho wll continue to be well cushioned from the draughts hitting small PI's and employees!
pyueck
15 Nov 2016
Re: As expected an average update Quote from 16th March by PFD"The Company has additionally identified a number of new strategic initiatives to help accelerate growth across its three Business Units of Grocery, Sweet Treats and International. Whilst these initiatives are expected to incur initial upfront investment of £2-4 million in the full year 2016/17, the Company is now raising its sales growth guidance for the medium term from 1-2% to 2-4%."Accelerate growth in Grocery, it's going backwards, fast?
Nice to Michu
15 Nov 2016
As expected an average update Some good news on the pension deficit and promising that international business and sweet treats are doing well.. and we're supposed to be having a cold winter which will help grocery.Overall annual targets are still - fairly - likely to be achieved, so no meaningful worries - so far - this year.If a somewhat - but not significantly - improved takeover offer was to come in I have a feeling it would now be successful. And with sterling weaker against the dollar and Euro and Yen etc. this has got be a decent possibility.
