January 15, 2018 / 7:56 AM / 2 years ago

Premier Foods says debt reduction strategy has not changed​

LONDON, Jan 15 (Reuters) - Premier Foods said on Monday it has not changed its strategy to cut debt outlined in its results in May, as it noted media speculation concerning a possible sale of its Batchelors’ brand to Nissin Foods Holdings .

Since March 2016 Premier Foods has had a co-operation agreement with Japan’s Nissin.

The group’s strategy includes reducing its ratio of net debt to core earnings to below three times.

“The board continues to keep under review any options which could potentially add value for shareholders and other stakeholders, and accelerate the delivery of the board’s strategic objectives, particularly with respect to reducing gearing,” it said. (Reporting by James Davey, editing by Louise Heavens)

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