LONDON (dpa-AFX) - Premier Foods plc (PFD.L) Wednesday announced preliminary results for the 53 weeks ended 3 April 2021.
The company also reinstated dividend after a long gap of 13 years, declaring a final dividend of 1 pence per share.
Premier Foods posted Profit before taxation of 122.8 million pounds or 12.5 pense per basic share during the 53 week period compared with 53.6 million pounds or 5.5 pense per share during last year.
Excludng items, earnings before taxation were 117.9 million pounds or 11.2 pense per share based on 53 weeks and 115.3 million pounds or 11 pense per share based on 52 weeks compared with 93.3 million pounds or 8.9 pense per share a year ago.
Revenue for the 53-week period was 947 million pounds, while it was 934.2 million pounds based on 52-weeks compared with 847.1 million pounds last year.
The company has reduced its net debt to 332.7 million pounds this year from 429.6 million pounds last year.
Looking forward, Premier Foods said, 'Initial trading this year is in line with the Group's expectations, reflecting the ongoing strength of its growth strategy, set against a period of strong comparatives. The Board is confident in the delivery of its full year profit expectations, and is set to benefit from substantially lower financing costs. As the Group transitions to the next phase of its evolution, it will look to expand through accessing new categories in the UK and also in selected overseas markets, while exploring bolt-on acquisition opportunities. It continues to target 1.5x Net debt/EBITDA in the medium term.'
Copyright RTT News/dpa-AFX
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