LONDON (dpa-AFX) - Premier Foods Plc (PFD.L), a British food maker, on Thursday reported a rise in preliminary earnings for the fiscal ended on April 1, 2023, amidst an increase in revenue.
Alex Whitehouse, Chief Executive Officer of Premier Foods, said: '. Our brands grew strongly, up 9.1%, underpinned by our branded growth model and supported by higher pricing. Trading profit increased by 11.5%, maintaining margins versus a year ago, as we successfully offset exceptionally high input cost inflation through a combination of cost efficiencies and pricing.'
For the 12-month period, the company reported a pre-tax income of 112.4 million pounds, higher than 102.6 million pounds of previous year.
Adjusted profit before taxation improved to 137.2 million pounds from previous year's 121.4 million pounds.
Post-tax profit was at 91.6 million pounds or 10.4 pence per share as against last year's 77.5 million pounds or 8.8 pence per share. Adjusted earnings per share were at 12.9 pence per share, higher than last year's 11.5 pence per share.
Operating income stood at 132.2 million pounds, compared with 131.1 million pounds a year ago.
Adjusted EBITDA also improved to 182.3 million pounds from previous year's 160.4 million pounds.
Premier Foods generated revenue of 1.006 billion pounds, compared with 900.5 million pounds of last fiscal.
For the fiscal 2022-23, Premier Foods will pay a final dividend of 1.44 pence on July 28, to shareholders on the register on June 30. Last year, the company had paid a final dividend of 1.2 pence per share.
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