Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data
Mr Kipling maker Premier Foods posts higher half-year adjusted profit
© Reuters. FILE PHOTO: A Mr Kipling Cherry Bakewell is seen in this illustration taken March 30, 2016. REUTERS/Phil Noble/Illustration
(Reuters) - Premier Foods reported a rise in half-yearly adjusted profit on Wednesday on strong demand for its cakes and grocery products, while flagging further price pressures amid surging inflation.
"We continue to see further input cost inflation, which we expect to recover through a combination of cost savings and our annual price increase in the quarter four this year," Chief Executive Officer Alex Whitehouse said.
Britain's grocery sector has come under pressure this year from a deepening costs-of-living crisis and supply disruptions caused by the war in Ukraine. Surging prices have caused the biggest squeeze on UK household income since at least the 1950s.
Premier Foods said adjusted profit before tax rose nearly 12% to 47 million pounds ($55.83 million) in the six months ended Oct. 1.
The maker of Mr Kipling cakes and OXO cubes reported a 6.2% rise in half-year revenue and said it was on track to deliver full-year expectations.
($1 = 0.8419 pounds)
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.