Premier Foods PLC (LSE:PFD)
£ 1.898 -0.026 (-1.37%) Market Cap: 1.64 Bil Enterprise Value: 1.86 Bil PE Ratio: 15.35 PB Ratio: 1.17 GF Score: 73/100
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Premier Foods PLC Conference Call For Bond Investors And Analysts Transcript

Nov 10, 2020 / 01:30PM GMT
Release Date Price: £0.927 (-10.00%)
Alexander Whitehouse
Premier Foods plc - CEO & Director

So good morning, everybody. Thank you for joining us, and welcome to Premier Foods half year results for the 26 weeks that ended on the 26th of September 2020. I am joined, as always, by our CFO, Duncan Leggett, and Duncan will take us through the numbers in a few moments time. But first of all, I'm just going to take us through some of the highlights.

So clearly, the first half of the year has been one of exceptionally strong trading. And that's driven fundamentally by 2 things: one, the increased occasions of people eating at home as out-of-home eating is being restricted; and secondly, as I will come back to, the fact that we've continued to drive our branded growth model.

And you can see how that translates through -- into turnover growth, so 15% turnover growth in the first half and with 8.1% growth in quarter 2. And then branded growth, stronger than that, 18.6% for the half and 11% in quarter 2.

Trading profit at GBP 66 million is 28.7%, ahead of a year ago. And really, you've got 2 factors playing into that.

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