Nov 13, 2018

Premier Foods CEO to depart after starting custard sale

Premier Foods shares were down almost 11 per cent this year, compared to a 4 per cent decline in the MSCI Europe Consumer Staples index. "We look forward to Premier Foods accelerating and realising its true potential." Premier Foods posted forecast-beating sales and operating profit for the first half of its financial year to the end of September. Revenue rose by 1.3 per cent to reach £358m. Premier Foods trading profit rose 6.2 per cent to reach £51m in the first half, and margins improved to 14.2 per cent from 13.7 per cent a year earlier. Premier Foods has a heavy debt burden, racked up in an ill-suited series of acquisitions, and has struggled to manage pension obligations to employees.

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