Premier reports Jubilee sales boost

QueenMr Kipling's launch of "Great British Fancies" for the Queen's Diamond Jubilee celebrations has delivered a boost to sales figures at owner Premier Foods.

The patriotic cakes were supported by a major advertising campaign that helped the UK's biggest food producer to report a 2% rise in sales from its eight frontline brands in the first six months of this year.
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Premier, which also owns Hovis, Bisto, Ambrosia and Loyd Grossman, said Mr Kipling sales "increased strongly" after it launched a Snack-pack format and other Jubilee-related products such as Mini Classics.

The St Albans-based company has been struggling under a £1.2 billion debt mountain following a spending spree that included Mr Kipling owner RHM.

However it hopes it is on the mend after sealing a £1.4 billion refinancing deal with banks and £40 million of cost savings ahead of plan by the end of this year.

The ongoing restructuring meant it recorded bottom-line losses of £27.3 million, compared with profits of £11.2 million last time, but focusing on the eight main brands its trading profits were 3.2% higher at £53.2 million.

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