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Food giant Premier sees its losses cut

By Ben Woods

Ambrosia custard and Bisto gravy maker Premier Foods has narrowed its losses after securing a hefty jump in sales from its international business.

The group has served up a half-year pre-tax loss of £1.2m for the six months ending in September, a significant drop from the £8.7m loss for the same period last year. Revenues also picked up by 1.5% to £353.3m, driven by a strong second quarter and a 23% jump in sales from its international operation.

Global growth came from strong demand for Mr Kipling and Cadbury in Australia, with the group eyeing a boost from a further expansion of Asian food brand Sharwood's across the US.

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