June 24, 2020 / 6:27 AM / 18 days ago

Premier Foods expects sales, profit to beat expectations this year

June 24 (Reuters) - Mr Kipling cakes maker Premier Foods Plc said on Wednesday it expected revenue and trading profit for the new year to exceed current estimates, encouraged by around 20% sales jump in the first-quarter on stockpiling during the coronavirus lockdown across the UK.

The company said adjusted pretax profit rose 6% to 93.3 million pounds ($116.73 million) for the year ended March 28, but added that consumers’ eating habits might change as lockdown measures ease over the coming weeks.

$1 = 0.7993 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich

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