Premier Foods39; Q3 sales rise 12
Group plans to close manufacturing site, 300 jobs at risk
Retains fullyear outlook

Jan 19 Reuters Premier Foods plans to close a manufacturing site in Britain, putting about 300 jobs at risk, after the maker of Mr Kipling cakes and OXO cubes reported a rise in thirdquarter sales.

The group said it expected to incur cash exceptional costs of about 10 million pounds 12.34 million in fiscal year 20232024 from its plans to shut of its Knighton site.

Knighton, in Staffordshire in central England, makes mainly nonbranded powdered beverages, so is not aligned to the group39;s branded growth model strategy and is marginally unprofitable at trading profit, Premier said.

Premier said it was entering into consultation with staff on its proposed closure.

The company39;s sales rose 12 in the three months ended Dec. 31, as inflationary pressures on consumer budgets failed to dent Christmas spending and demand for the group39;s cakes and sauces.

Premier Foods39; performance was in line with Britain39;s biggest retailers, which recorded better than expected Christmas sales as festive treats sold well despite a deep costofliving crisis.

Jefferies said Premier Foods39; sales look strong in the wake of the quarterly earnings of supermarkets, including Tesco and Sainsbury, providing further evidence of a strong Christmas in UK consumerland that has belied our 39;winter of discontent39; prognostications.

But the group, one of UK39;s largest food…