(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)