massmid
23 Aug 2017
Re: DARBY Good to see CEO and Chairman buying shares.
item club
11 Aug 2017
forgot subject is "worth holding on" Another offer could come along so at this price its a good one !
item club
11 Aug 2017
You never know when another offer may come ? I think its well worth holding on to this one !.....
tradingup
26 Jul 2017
DARBY GO DARBY GO!!!
pyueck
24 Jul 2017
Re: SOLD Can't blame you for selling.Management have shown themselves to be totally unable to monetise some of the best known well loved brands in the UK (Hovis, OXO, Bisto, Ambrosia, Mr Kipling). They just about post half respectable revenue figures by having a decent tie up with Cadburys for their cakes, who are 100 times better at marketing than PFD. The rejection of the takeover was a joke, not only for them to reject a very good offer, but also to make all these promises to shareholders about future performance, only for under a year later to totally pull back from and claim a 3.1% decline is what they expected. I cannot see what the tie up with Nissin is adding to the company beyond making it harder for the company to be taken over. Why management last year clearly favoured Nissin over McCormick is beyond me, maybe Darby just wanted to save his job.The success of Quorn post PFD sale shows in my opinion how good management can make a brand much more successful than under PFD. I genuinely believe that PFD still has some pretty great brands, however they are quickly looking tired and dated and their value being destroyed by this incompetent management.I think if Darby was replaced by somebody who actually has demonstrated an ability to grow a brand rather than destroy them the shareprice would be up a lot! Darby seems intent though on clinging on and promising a brighter future, well a message to you Mr Darby, nobody believes your promises any more.If things continue as they are can't see things getting any better. However their brands are good and surely at some time somebody will buy either the brands or the company at a half decent price.
Broncomaniac
24 Jul 2017
SOLD Almost two years to the day since I first bought in and I've had enough, I'm out.I'd been holding on in the hope of McCormick making another bid, but with their recent purchase of RB foods, I can't see them coming back anytime soon.Last night I read the FT article 'Premier Foods - not even second class' and it was the final bit of persuasion I needed to dump this dog. I'm concerned that the products do not have enough pricing power to pass on inflation in supplier prices onto consumers, so I see a further margin squeeze is coming. Also I have zero confidence in management, they should be kicked out for obstructing the McCormick bid.
alfa-spider
24 Jul 2017
missed opportunity [link]
massmid
20 Jul 2017
Re: Q1 Trading Down CEO was very proud to say at the AGM today that Shore Capital upgraded Premier to "hold".He omitted to say that there are no "buy" recommendations on the company.Unfortunately he is the problem,not the solution. If he went, then maybe there would be some buy recommendations..
pharmaspecialist
20 Jul 2017
Re: Q1 Trading Down Yes I would agree Norman you do have to laugh and I must admit I find it easier to poke fun at Premier's statements than any other company I hold. They just don't seem to understand how to communicate and that shareholders can see through their attempts to make things sound better than they actually are, opening up management to ridicule. They must be struggling to find anything positive to say if they mention sales of Cadburys cakes in Australia as, whilst encouraging, this is hardly material to their overall performance.
nk1999
20 Jul 2017
McCormick As they have now bought Reckitt's food division, what is the impact on their likelihood of having another shot at PFD?Will they try to consolidate, so more chances of a bid for PFD?Have they used up their cash resources and management hunger for M&A on RB, and will no longer bother about PFD?I am not sure, and will welcome any informed views.nk
Norman Barrington
20 Jul 2017
Re: Q1 Trading Down You have to laugh. They say "Sales in the first quarter were (3.1%) lower than the prior year. This was in line with the Group's *expectations*."But then they say "the reported sales quarter on quarter were adversely impacted by lower market volumes partly reflecting a warmer June"Taken together this means the BOD already *Expected* a warmer June! So now they have taken to weather forecasting. Perhaps they would do better at that, than forecasting profits? It seems to me that bod's are becoming more and more brazenly slippery, it doesn't matter how ridiculous what you say, as long as you can keep a straight face - not unlike politicians.
pyueck
20 Jul 2017
Darby must go The results are awful, sales down 3.1%. Don't give me in line with management expectations when you rejected the takeover offer you said you expected growth of 2-4% per year. Based on that alone he has to go.
The buzz
20 Jul 2017
Q1 Trading Down "As Expected" !! Q1 report makes me worry when they say:-"Q1 Sales down (3.1%), in line with Group's expectations for the quarter"Of course they put a positive spin on the results:-"· International sales up +20% in Q1; eleventh successive quarter of growth· First new products from Nissin strategic relationship now delivered over £3m retail sales· Expectations for progress in full year remain unchanged"Well international sales volumes have always been from a low base. £3m sales is still small with £170m total sales. Plus "our expectations to deliver progress in the full year are unchanged." - again another 'jam tomorrow' message. No wonder McCormick chose Reckitt Benckiser yesterday:-[link] course the weather was partly to blame "the reported sales quarter on quarter were adversely impacted by lower market volumes partly reflecting a warmer June,..."We wait for the cost reduction program "to deliver savings of £10million this financial year,...". Plus achieving "The Group remains confident of delivering positive sales growth in quarter two." As always PFD seems to have good things coming up but the results always seem to to be poor. The clock is ticking on meeting these promises.The B
pyueck
11 Jul 2017
Re: Today's FT The letter is in link below.Have to agree with it. The board, against my view at the time, rejected the bid on the basis that it was a) too low, b) they would be able to deliver 2-4% sales growth and c) the tie up with Nissin would allow them to grow internationally quickly.None of these have been delivered, instead sales are declining and the share price is well below the bid. Over a year on there is little to no sign that the tie up with Nissin is delivering anything material enough to justify turning down the bid.In my opinion the current management have shown me nothing to suggest they will leverage the brands they have or act in the interests of shareholders.[link]
massmid
11 Jul 2017
Today's FT Today's FT reports that a new shareholder has written to the chairman and non executive directors that the trouble with the company is that it has awful management and that they need to be kicked out! A lot of us agree.If you agree with that view let's vote against the reelection of the CEO,CFO and chairman and for the activist non executive at the upcoming AGM on July 20. They need to be told that small shareholders agree .
