Premier Foods says debt reduction strategy has not changed

Nissin

15/01/2018 07:01

LONDON, Jan 15 (Reuters) - Premier Foods  PFD.L  said on 
Monday it has not changed its strategy to cut debt outlined in 
its results in May, as it noted media speculation concerning a 
possible sale of its Batchelors' brand to Nissin Foods Holdings 
 9066.T . 
    Since March 2016 Premier Foods has had a co-operation 
agreement with Japan's Nissin. 
    The group's strategy includes reducing its ratio of net debt 
to core earnings to below three times. 
    "The board continues to keep under review any options which 
could potentially add value for shareholders and 
other stakeholders, and accelerate the delivery of the board's 
strategic objectives, particularly with respect to reducing 
gearing," it said.     
 
 (Reporting by James Davey, editing by Louise Heavens) 
 ((james.davey@thomsonreuters.com; +44 20 7542 7674; Reuters 
Messaging: james.davey.thomsonreuters.com@reuters.net)) 
 
Keywords: PREMIER FOODS STRATEGY/