Premier is a food producer that was spun out of Brait (BAT) through an initial public offer (IPO) and separately listed on 24th March 2023, raising R3.6 billion at a share price of 5382c per share. Brait retained 47.1% of Premier. The company has successfully mitigated the impact of load shedding on its operations, with the associated costs not having a material impact on its financial performance.
In its results for the year to 31st March 2024, the company reported revenue up 3.6% and headline earnings per share (HEPS) up 17.4%. The company said, "Both the Millbake and the Groceries and International categories contributed to the growth, increasing by 3.7% and 3.3% respectively. The softening to single-digit revenue growth was expected given the impact of significant soft commodity inflation in the prior year and its subsequent stabilization."
Since it listed on 24th March 2023, the share has been drifting sideways and slightly up. However, it is very early days, and no meaningful technical analysis is yet possible.
We expect this share to be a blue-chip quality operation that is sought after by institutional investors, making it a solid, if unexciting, investment for private investors. The company's ability to manage operational challenges such as load shedding and the growth in its key segments suggests that Premier has strong fundamentals and potential for steady, long-term growth.
In its results for the year to 31st March 2024, the company reported revenue up 3.6% and headline earnings per share (HEPS) up 17.4%. The company said, "Both the Millbake and the Groceries and International categories contributed to the growth, increasing by 3.7% and 3.3% respectively. The softening to single-digit revenue growth was expected given the impact of significant soft commodity inflation in the prior year and its subsequent stabilization."
Since it listed on 24th March 2023, the share has been drifting sideways and slightly up. However, it is very early days, and no meaningful technical analysis is yet possible.
We expect this share to be a blue-chip quality operation that is sought after by institutional investors, making it a solid, if unexciting, investment for private investors. The company's ability to manage operational challenges such as load shedding and the growth in its key segments suggests that Premier has strong fundamentals and potential for steady, long-term growth.
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