UK's Premier Foods rises on upbeat annual profit forecast

Premier Foods

21/01/2025 08:52

** Shares of Mr Kipling maker Premier Foods  PFD.L  gain 5%
to 188.1 pence 
    ** PFD forecast annual profit at upper end of analysts'
expectations, following robust sales of branded products during
key holiday season
    ** Analysts predicted trading profit range of 180.1 mln
pounds to 186.4 mln pounds ($221 mln-$228.7 mln) for financial
year 2024-25, according to company-compiled consensus
    ** Within total sales, there was a continuation of two
notable trends: marked outperformance of branded sales & volume
growth tracking ahead of revenues, say analysts at Jefferies 
    ** "We see this result as reflecting success of investments
into promotional price-points since H2'24, clear delivery of
strategic agenda, & strong execution over key Christmas period"
    ** Co posts Q3 total sales of 360.1 mln pounds, up 3.1% YoY
    ** Stock rose ~39% in 2024 
    

 (Reporting by Ankita Bora)
 ((Ankita.Bora@thomsonreuters.com;))