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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Premier Foods plc    PFD   GB00B7N0K053

PREMIER FOODS PLC

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Premier Foods : sees higher profit after online Christmas sales surge

01/19/2021 | 03:19am EST

(Reuters) - OXO cube maker Premier Foods said on Tuesday it expects higher full-year profit after online sales jumped 90% in the third-quarter leading up to the busy Christmas season.

The company expects annual trading profit to be between 145 million pounds and 150 million pounds ($204.05 million), compared with 132.6 million pounds that it reported last year.

"Looking to the remainder of the year, out-of-home eating is likely to remain heavily restricted and we therefore expect to see continued high levels of consumer demand for our products," Chief Executive Officer Alex Whitehouse said.

Premier Foods also signed an agreement with Weston Foods to sell Mr Kipling cakes in the United States, with the first shipments expected to begin in the first quarter of fiscal 2021-22.

Total group sales at the company rose 9% for the 13 weeks ended Dec. 26, ahead of Jefferies's estimates, helped by strong demand for its Sharwood's cooking sauces, Bisto gravy, Batchelors and dessert brand Ambrosia.

The company, which has lifted its annual profit forecast twice since the start of its financial year in March, now seeks to increase brand advertising and has new products planned for the fourth quarter.

The Mr Kipling cakes maker also said it will redeem an additional 40 million pounds worth of notes due in July 2022.

Meanwhile, the company reported a jump of 43% in its international business sales, partly helped by purchases of its products ahead of the Dec. 31 European Union exit date, and said it does not expect any material impact from tariff changes.

($1 = 0.7351 pounds)

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
PREMIER FOODS PLC -1.66% 88.9 Delayed Quote.-11.28%
TOTAL SE 1.20% 38.835 Real-time Quote.10.01%
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Financials
Sales 2021 930 M 1 290 M 1 290 M
Net income 2021 67,2 M 93,2 M 93,2 M
Net Debt 2021 338 M 469 M 469 M
P/E ratio 2021 9,24x
Yield 2021 -
Capitalization 760 M 1 060 M 1 054 M
EV / Sales 2021 1,18x
EV / Sales 2022 1,17x
Nbr of Employees 4 000
Free-Float 80,2%
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Technical analysis trends PREMIER FOODS PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Average target price 113,50 GBX
Last Close Price 88,90 GBX
Spread / Highest target 46,2%
Spread / Average Target 27,7%
Spread / Lowest Target 1,24%
EPS Revisions
Managers and Directors
NameTitle
Alexander Richard Whitehouse Chief Executive Officer & Director
Duncan Neil Leggett Chief Financial Officer & Director
Colin Richard Day Non-Executive Chairman
Paul Thompson Operations Director
Pamela Powell Independent Non-Executive Director
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