Stock Groups

Mr. Kipling maker ramps up spend ahead of Christmas -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – This illustration, taken on March 30, 2016, shows a box of Mr Kipling Fench Fancies. REUTERS/Phil Noble/Illustration/File Photo

(Reuters.) Premier Foods, which makes Cadbury cake and Mr Kipling, will spend the majority of its first-half earnings on its supply chain. With the UK facing a severe shortage of cereals and crisps due to the pandemic,

Pre-tax profits of 30.7million pounds were reported by the company for the six-months ended Oct. 2. The company expects to spend about 25 million pounds on capital in the full year as it increases investment throughout the supply chain. Premier Foods spent 6.9 million pounds in the first half.

British companies saw working capital inflows of 22 million pounds during the first half versus a total of 4.5million pounds one year ago.

Premier Foods stated that the outflow was due in large part to the higher stock levels than six months ago, as the group continues to build stock for Christmas.

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