Premier Foods (PFD.L, PFD LN)

  • 335.9
  • 840.9
  • 59.5
  • PREMIER FOODS

    Closing Price (p): 40.0

  • RATING 12/10/16

  • PREVIOUS RATING 12/11/15

    OUTPERFORM

Company Profile

Premier Foods is a UK-centric packaged foods company. It comprises two main divisions - Grocery and Sweet Treats - which account for c.95% of revenues. Its portfolio of brands includes many familiar household names such as Oxo, Bisto and Mr. Kipling. In April 2014, Premier completed a major capital refinancing plan to reduce leverage, diversify sources of funding and provide a longer-term funding arrangement with its pension schemes. Premier's new management team has set out its stall with regards to its growth objectives - in order for it to return to volume growth, it must drive category growth. Premier is the leading branded player in several categories within the ambient grocery market: cooking sauces & accompaniments, flavours & seasonings, easy eating, ambient desserts and ambient cakes. All these categories are experiencing low to moderate growth in the UK and most have a significant private label presence. As a result, category innovation, marketing and promotion have been low.


Major Shareholders%
Nissin Foods Holdings19.9
Oasis Mgmt17.3
UBS9.2
Paulson & Co6.1
PSG Asset Management5.0