Premier reports Jubilee sales boost
Filed under: News
The patriotic cakes were supported by a major advertising campaign that helped the UK's biggest food producer to report a 2% rise in sales from its eight frontline brands in the first six months of this year.
The St Albans-based company has been struggling under a £1.2 billion debt mountain following a spending spree that included Mr Kipling owner RHM.
However it hopes it is on the mend after sealing a £1.4 billion refinancing deal with banks and £40 million of cost savings ahead of plan by the end of this year.
The ongoing restructuring meant it recorded bottom-line losses of £27.3 million, compared with profits of £11.2 million last time, but focusing on the eight main brands its trading profits were 3.2% higher at £53.2 million.