• Half-year trading profit up 5.6%
  • Turnover climbed 3.5%, boosted by Hovis sales
  • Company on course to delivery FY profit expectations

UK-based food group Premier Foods plc posted an increase in half-year earnings today (5 August), boosted by a rise in demand for Hovis bread.

The owner of Mr Kipling and Quorn saw trading profits rise 5.6% to GBP123.6m (US$210m) for the six months to 27 June.

Turnover climbed 3.5% to GBP1.25bn, helped by a 17% increase in sales of Hovis.

Group operating profit however, dropped to GBP26.8m from GBP46.2m in the second half of 2008.

Robert Schofield, chief executive said: "We continue to focus on cash generation and debt reduction and we are on course to deliver our full-year profit expectations."

Click here for the full half-year release from Premier Foods. Click here for further comment from CEO Robert Schofield on the company's plans to boost market share.