Premier Foods sees results in line

UK food producer Premier Foods confirmed that fourth quarter trading for 2012 was in line with company expectations, after solid progress during the final quarter.

The maker of Mr Kipling cakes and Hovis bread as well as a solid performance during the fourth quarter, growth momentum continued behind its so called 'power brands.'

In 2011 Premier Foods listed eight of its brands which it felt had the best growth prospects: Batchelor's, Lloyd Grossman, Bisto, Ambrosia, Hovis, Mr Kipling, Oxo and Sharwood's.

The St Albans-based firm also confirmed that results for the financial year 2012 are expected to be in line with current market expectations.

Chief Executive Officer Michael Clarke said: "While the market continues to be challenging, I'm encouraged by the progress we have made in 2012. This provides a solid platform to continue our growth momentum in 2013."

In October 2012 Premier Foods agreed to sell its Branston range of pickles and sauces to Japanese vinegar company Mizkan, and announced plans to close two bakeries in the UK as part of its strategy to reduce debt and drive profit.

CJ