“These results reflect the actions we’re taking in line with our trading strategy,” said CEO Robert Schofield. “Our principal brands are growing in volume and market share and our gross margins have risen as we’ve improved product mix and delivered procurement gains and manufacturing efficiencies.
“We’re controlling costs tightly and have made good progress in strengthening our cash flow and reducing debt. Today, we’re setting out further details of our programme to diversify and strengthen our financial structure. With the foundations of the strategy in place and delivery on track, we’re looking forward to the rest of the year with enthusiasm.”
Source: Premier Foods
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