Company
LON:PFD
Premier Foods manufactures a range of branded and own-label products across many food categories. Premier’s principal markets are the United Kingdom’s major food retailers, wholesalers and convenience stores, foodservice customers and food manufacturers.
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A stock exchange filing today showed Oasis had raised its holding in Premier Foods to 17.3% from 9.09% ahead of the group's annual meeting on 18 July
Oasis is calling for one of Premier's gems - Batchelors - to be sold off but, perhaps unusually for a hedge fund, it is not seeking for any of the proceeds to be directly returned to shareholders but instead to be used to derisk the company
Oasis Management has urged shareholders not to reappoint Gavin Darby at next month’s AGM, claiming that the 61-year-old has driven Premier “into its current zombie-like state”
The company was guardedly optimistic on the outlook
Investments and investor services
Around 3.20pm, the UK blue-chip index was up 17 points to 7,728
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As well as easyJet, updates are expected from big names such as Vodafone, Land Securities and Hargreaves Lansdown.
"Our International business produced another excellent quarter and our partnerships with Nissin and Mondelez International continue to deliver strong performances, demonstrating their strategic benefits to us," said CEO Gavin Darby
Investments and investor services
London’s blue-chip benchmark closed around 13 points lower on the day at 7,755
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Day ahead includes latest UK inflation data, plus trading updates from retailers Dunelm PLC, Greggs PLC, and JD Sports Fashion PLC, as well as Johnson Matthey PLC
The Bisto maker said it regularly explores ways to generate value for shareholders and does from time to time hold discussions with third parties, although it isn’t currently in advanced discussions with anyone
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Week ahead includes trading updates from Whitbread PLC, Associated British Foods PLC, Experian PLC, Royal Mail Group PLC, William Hill PLC, Burberry PLC, plus UK inflation and retail sales data
First half sales rose as a strong second quarter offset a "challenging" first quarter
Some of the main news-driven risers and fallers in London on Wednesday ...
Investments and investor services
Data out yesterday suggested Chinese industrial production growth is starting to slow, which is bad news for miners, but Fresnillo topped Footsie today
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Growth in the business unit might ease some of the pain from lower revenues and earnings
London markets started the day on the front foot and haven't looked back ...
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Can the supertanker Unilever ride the crest of a wave? Can a Newcastle United owner change his stripes?
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Week Ahead: Unilever PLC, Vodafone PLC, easyJet PLC, Sports Direct PLC, Royal Mail Group PLC ...
The Mr Kipling owner had warned back in January that profits would likely fall by around 10% as a result of food inflation
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Vodafone and Speedy Hire report their full year results on Tuesday
