Mr Kipling owner Premier Foods restores dividend after stellar year

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
By Reuters
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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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