17th Oct 2008 12:58
Statement re Share Price Movement
Premier Foods notes with concern the fall in its share price since 13 October.
Premier announced on 13 October 2008 that trading has been broadly in line with its expectations. Sales for the third quarter are approximately 9% ahead of the same period last year helped particularly by strong sales value and volume growth in September and this sales trend has continued into October. Synergy delivery continues on track with the recent closure of its Reading and Middlewich factories.
Accordingly, Premier anticipates meeting its financial covenants at 31 December 2008.
In current market conditions the Board is not pursuing any current plans to issue equity or equity linked products.
Premier has scheduled its next Interim Management Statement for release on 18 November 2008.
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