date:Oct 24, 2012
on than it has been for some time.
Damian McNeela, analyst with Panmure Gordon, highlighted Premiers continuing debt burden.
The firms shares were trading on 7.6x earnings value (EV)/earnings before interest, tax, depreciation and amortisation (EBITDA) this year falling to 6.8x EV/EBITDA for 2013.
Given the challenges posed by its outstanding net debt position, we forecast [more than] 1,123 at year end and 260M pension deficit, we retain our Hold recommendation and 90p target price.
Michael