LONDON (dpa-AFX) - Premier Foods plc (PFD.L) reported a loss before tax of 2.2 million pounds for the 26 weeks ended 29 September 2018 compared to a loss of 1.2 million pounds, previous year. Loss per share in pence was 0.1 compared to breakeven per share. Adjusted profit before tax increased to 30.2 million pounds from 26.4 million pounds. Adjusted earnings per share was 2.91 pence compared to 2.56 pence. The Group reported headline trading profit of 51.0 million pounds in the first half of the year, 6.2% growth compared to prior year.
First-half Group revenue was 358.0 million pounds, up from 353.3 million pounds a year ago; an increase of 1.3%. Branded revenue grew by 0.5% while non-branded revenue were up 5.5%.
Gavin Darby, CEO, said: 'We have a strong innovation plan in place for the second half of the year, and profit expectations for the full year remain unchanged. Having today announced a new strategic initiative for the business, I have decided to step down as CEO on 31st January 2019, which will mark the sixth anniversary of my joining Premier Foods. The Board will now begin a recruitment process for my successor.'
Copyright RTT News/dpa-AFX