Blog: Dean BestSomeone's luck is in at Premier

Dean Best | 12 October 2011

Shares in Premier Foods, the UK's largest food manufacturer, fell again today (12 October), the latest slump in the company's stock after its profit warning last week. However, there is some good news within the business.

Premier's shares stood at 4.1p at 14:13 BST this afternoon, a fall that followed Friday's tumble, when the company said its annual profits would be below market expectations.

News of the latest drop in Premier's shares reached just-food at Anuga, the international trade show in Cologne.

just-food understands that Premier's key suppliers are set to meet the company's management, including new chief executive Michael Clarke, at a conference in the coming days. It should make for an interesting meeting, with suppliers likely to be concerned about the company's future.

However, one person connected to Premier is feeling happy this morning. Reports in the UK say that Dave Dawes, the latest Euromillions lottery winner, is a shift supervisor at Premier.

With his GBP101m (US$158.9m) winnings, he could, if the shares fall further, end up buying the company.


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