date:Aug 07, 2012
g its forecast for Premier Foods earning before interest and tax by 2% for 2012 and by 3% for 2013.
In its note Investec said wheat was probably Premiers biggest purchased commodity with it buying around 1,500t a year, and that more than half of this, 825t, was used by Hovis.
Difficult environment
The analyst added:Premier has, of course, made life difficult for itself by standing behind the marketing claim that Hovis uses only 100% British wheat.
Assuming the claim is maintained, the compan