Premier Foods Returns To Profitability

UK-based Premier Foods has reported that turnover in the 12 months to the end of December climbed by 2.2% to reach GBP2.66bn. Over the period Premier generated pre-tax profits of GBP47mn which compares to pre-tax loss of GBP405mn in 2008. The company was forced to announce on January 14 that its pre-tax profits would not meet expectations, after its margins were impacted by product discounting. However, the return to profitability is a significant milestone for the firm, which has struggled to contend with large debts built up through a series of

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