Premier Foods PLC (PFD.L)
24 Oct 2014
|Market Cap (Mil.):||£240.94|
|Shares Outstanding (Mil.):||823.71|
(The following statement was released by the rating agency) LONDON, October 24 (Fitch) Fitch Ratings has revised UK-based Premier Foods plc's (Premier Foods) Outlook to Negative from Positive. In addition, the agency has affirmed Premier Foods' Long-term Issuer Default Ratings (IDR) at 'B' and Premier Foods Finance plc senior secured rating at 'B' with a Recovery Rating of 'RR4'. The Outlook revision reflects the deterioration of credit metrics beyond Fitch's expectations. We do not expect
* Company accelerating cost cuts, launching cheaper products
LONDON, Oct 23 - British food manufacturer Premier Foods reported lower third-quarter sales on Thursday, hurt by UK consumers doing more of their shopping online or at discount chains that stock their own brands.
* Increasingly demanding market conditions result in branded sales reduction of 4.1% in q3
* Posts notice of general meeting to approve employee share incentive plan
LONDON, July 22 - Premier Foods, the British maker of Mr Kipling cakes and Bisto gravy, posted a 2.1 percent rise in first half trading profit, though its sales fell, reflecting a tough market for its supermarket customers.
* H1 revenue from continuing operations 364.7 million stg
LONDON, June 18 - Premier Foods, the British maker of Mr Kipling cakes and Bisto gravy, cut its forecasts for annual sales growth at its key brands due to the country's "subdued" grocery market.
* Stand-alone joint venture with Specialty Powders Holdings Limited to manufacture powdered beverages and desserts