Premier Foods, maker of Hovis bread, sees losses narrow
- Published
Premier Foods has been cutting costs
The maker of Hovis bread and Bisto, Premier Foods, has reported that losses narrowed to 拢23.5m in the six months to the end of June.
In the same period last year, it recorded a loss of 拢45.8m.
Sales for its bread division rose 8.2% to 拢356m, but total grocery sales declined by 1%.
Costs for reorganising the business totalled 拢12.4m, which included the closure of three bakeries and two distribution sites.
In a statement accompanying , chief executive Gavin Darby said: "We have already completed the actions to deliver the promised 拢20m of overhead cost savings for 2013 and continue to keep a tight control over costs.
"The restructuring of our bread and milling business is ahead of plan and we are taking the decisions necessary to create a more sustainable platform for this business."
- Published10 January 2013