Food manufacturer Premier Foodshas narrowed its losses after securing a hefty jump in sales from its global business.
Premier Foods reported that its global revenues have progressed at an annual growth rate of 18% in the last three years.
International revenue at the group behind brands such as Bisto, Batchelors, Loyd Grossman, and Mr Kipling, increased by 23pc year-on-year in the six month period, driven by the group's partnerships with Nissin and Mondelez International.
Overall revenue in the six month period was £353m (€395m), trading profit at the group was £48m - unchanged year-on-year - while the company made an operating profit of £22.5m, an increase of 2.3pc on the same period last year.
Premier Foods has seen its revenue rise by 1.5%, from £348 million to £353 million in its fiscal HY 2017/18 financial results, thanks to the group's strategic partnerships with Nissin and Mondelez International including brands such as Batchelors Super Noodle Pots, Soba Noodles and Cadbury. The company swung to a net profit of GBP300,000 from a net loss of GBP55.6 million a year ago. Premier's second quarter sales were up 6.2% compared with the previous quarter.
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