Premier Foods plc
12 July 2005
Premier Foods plc
Trading Update for the half year to 2 July 2005
The trading outlook for the year remains in line with our expectations. The
grocery business continues to make progress after a slow January and we are
looking forward to an improved second half when a number of our new products
will be launched into the market place.
The Birds business acquired in February is trading in line with expectations and
the integration continues to progress well. We have identified that we will be
able to further enhance the efficiency in our Knighton factory by replacing all
the acquired production lines. This replacement will take slightly longer to
implement than the transfer of the acquired lines and means that we will
continue using the production facilities at Kraft's factory in Banbury until the
end of the year.
We are excited by prospects for Quorn and have begun the development and
implementation of our detailed plans for the business, following the completion
of the acquisition on 6 June.
Trading conditions continue to be difficult at MBM and we do not anticipate
seeing any improvement until 2006.
With regard to Sudan 1 the position remains unchanged from our previous
statements in that we have no material financial exposure. Our insurer, through
their loss adjuster, is in discussion with claimants regarding potential
settlements.
Premier Foods will provide an update on the effect of its implementation of IFRS
and take questions via a conference call at 10:30am today Tuesday, 12 July 2005.
The conference call number is 020 8322 3331, password 'Premier Foods', with a
telephone replay facility on 020 7081 9440, account number 801102, pass number
050712, for 7 days. The IFRS update slides are available at http://
www.premierfoods.co.uk/about/investor/financial/financial-presentations.cfm from
9:00am.
Premier Foods will be releasing its interim results for the 6 months to 2 July
2005 on 6 September 2005. Premier Foods will be hosting a presentation to
analysts at 9:00am on 6 September 2005 at ABN AMRO's offices, 250 Bishopsgate,
London EC2M 4AA.
Premier Foods plc Tel: 01727 815 850
Paul Thomas, Finance Director
Gwyn Tyley, Investor Relations Manager
Citigate Dewe Rogerson Tel: 020 7638 9571
Michael Berkeley,
Sara Batchelor,
Anthony Kennaway
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.