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Mr Kipling owner Premier Foods restores dividend after stellar year

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Mr Kipling owner Premier Foods restores dividend after stellar year
Mr Kipling owner Premier Foods restores dividend after stellar year   -   Copyright  (c) Copyright Thomson Reuters 2021. Click For Restrictions - https://agency.reuters.com/en/copyright.html
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(Reuters) – Mr Kipling owner Premier Foods on Wednesday restored its dividend after 13 years as annual revenue and profit topped market expectations on strong pandemic-driven demand, product launches and increased advertising.

The maker of Oxo stock cubes and Bisto gravy reported a 24% jump in adjusted pretax profit to 115.3 million pounds ($163.48 million) on revenue of 934.2 million pounds for the year ended April.

Analysts had expected adjusted pretax profit of 112 million pounds on revenue of 926 million pounds, as per a company-compiled consensus of estimates.

($1 = 0.7053 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika Syamnath)

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