Premier Foods hit a new all time low this morning after speculation it was close to breaching its financial covenants persisted. Shares in the group fell 16% despite the Company stating that it was not contemplating a rights issue.
"Based on our expected financial results for 2007, we are not in breach of our financial covenants as at December 2007 and, based on our latest financial projections, we do not expect to be in breach on an ongoing basis." the Company said.
Premier Foods will announce its preliminary results on the 4th March 2008.