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NewsPremier Foods Q1 profit down 29%
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Premier Foods Q1 profit down 29%
by hlk Sat 06 Aug 2011, 13:08
LONDON: Britain's biggest food manufacturer Premier Foods posted a 29% slump in first-half profit, hit by rampant commodity prices and what it said was an unprecedented fall in demand.
“The market in our categories has been unprecedentedly low this year, down about 4% in volume. That is very unusual because normally our categories (groceries and bread) go forward at about 1%,” chief financial officer Jim Smart told reporters yesterday. Reuters
“The market in our categories has been unprecedentedly low this year, down about 4% in volume. That is very unusual because normally our categories (groceries and bread) go forward at about 1%,” chief financial officer Jim Smart told reporters yesterday. Reuters
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