Premier is on track to beat market expectations for the 2020/21 financial year as a whole, despite higher costs from equipping its supply chain for the pandemic. It also cautioned that it remains unclear how consumers' eating habits may change as lockdown measures ease.
Shares have soared during the Covid-19 crisis, with the stock up more than 200% from its low of 18.5p in mid-March. Confidence has also been boosted by a landmark pensions agreement, which has the potential to significantly reduce future funding costs.
Today's annual results show that Premier's biggest brand, Mr Kipling, increased sales by 4% to the highest ever level. The surge comes two years after a major relaunch, with the brand recently benefiting from a TV advertising push and the launch of its new Signature range.
Premier said its UK business had now delivered 11 consecutive quarters of revenue growth.
