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On the bread line: Premier Foods announces £259.1m loss Monday, 19th March 2012
Photo credit: Hovis advert, 2010
Premier Foods on Monday announced a £259.1 million pre-tax loss for 2011, as the Hovis owner fought against tough price competition in the bread market.
According to the BBC, trading profit in Premier Food’s bread division fell 90.4 per cent to just £3.4 million. The loss compares to a profit of £28.5 million in 2010.
The news comes just one week after the company announced it had managed to secure an extension on its £1 billion loan from banks to 2016.
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Posted in Food Tagged premier foods, extension, hovis, bread, price, division, myretailmedia, news, group
