LONDON (dpa-AFX) - Premier Foods plc (PFD.L) said its first half adjusted profit before tax decreased by 2.9% from a year ago, reflecting lower trading profit. The Group delivered trading profit of 57.8 million pounds, down 12.2%. Group revenue decreased 6.5%, which was ahead of guidance, the Group said. Branded revenue was 6.1% lower while non-branded revenue declined 9.4%. Looking forward, Premier Foods said the Group remains firmly on track to deliver on its profit expectations for the full year.
For the 26 weeks ended 2 October 2021, adjusted profit before tax declined to 46.4 million pounds from 47.7 million pounds, last year. Adjusted earnings per share were 3.8% lower at to 4.4 pence.
Profit before tax declined to 30.7 million pounds from 50.5 million pounds, last year. Earnings per share was 2.4 pence compared to 5.0 pence. Revenue declined to 394.1 million pounds from 421.5 million pounds.
The Group reiterated its intention to pay a dividend on a full year basis.
Copyright RTT News/dpa-AFX
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