Premier Foods reports loss in H1

Fri. August 07, 2009; Posted: 10:44 AM

Aug 07, 2009 (Datamonitor via COMTEX) -- PRRFF | Quote | Chart | News | PowerRating -- British foods company Premier Foods has reported loss for the six-month period ended June 27, 2009 of GBP35.9 million, compared to GBP1.3 million profit in the same period of 2008.

Operating profit for the six-month period ended June 27, 2009 was GBP26.8 million compared to GBP46.2 million in the corresponding period for 2008.

Gross profit for the half year period ended June 27, 2009 was GBP359.6 million compared to GBP342.6 million in the same period of 2008.

Total turnover for the company for the six-month period ended June 27, 2009 was GBP12.48 billion, compared to GBP12.05 billion for the six-month period ended June 28, 2008.

Robert Schofield, CEO of Premier Foods, said: "Now that we have substantially completed the integration of RHM and Campbell's and successfully refinanced the group, we have been able to embark on targeted investment behind our key market-leading brands.

"Against the backdrop of an exceptionally tough trading environment, we are pleased with our progress with increased market share through co-ordinated programs of innovation, advertising and promotional activity. We are delighted by the continued success of Hovis which has grown its sales by 17% and reached its highest market share for over two years."

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