Premier Food blames September's heat wave for a slide in sales as demand for gravy and stock falls



Shares in Bisto to Mr Kipling cakes’ owner Premier Foods dropped after it blamed September’s hot weather for a slide in sales, especially of its gravy and puddings.
The group, which earlier this year rebuffed takeover approaches by US firm McCormick & Company, lowered its full year outlook as it reported that sales at its grocery arm dropped by 9.5 per cent in the second quarter to October 13.
Premier Foods shares, which have risen by around 40 per cent since the takeover saga at the end of June, dived 14 per cent, or 7.6p lower to 44.6p in morning trading. 
Premier Foods, which also... read more

 
12 October 2016 in Business, Views: 39
Source: Daily Mail
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