In early September, we reported predictions from Investec Securities that Premier Foods faced “death or glory” by 2014.
Martin Deboo, analyst with Investec, said in a statement, Premier: “Still [faced] death or glory by 2014. After a post-refinancing bump in March, the shares are heading back to their pre-refinancing trough of 34p. But much has changed since then.”
The disposal valuations of Premier’s business sales this year have disappointed, while the firm’s leverage – or the amount of debt used to finance assets – remains “epic”, he added.
Premier ceo Michael Clarke had put his faith in eight power brands to revive the fortunes of Britain's biggest food manufacturer.
The eight brands are: Ambrosia, Batchelor’s, Bisto, Hovis, Loyd Grossman, Mr Kipling , Sharwood’s and Oxo.