Premier Foods PLC (LSE:PFD) has said its full-year profit will be ahead of expectations after a strong start to the fourth quarter.
Trading profit is expected to be around £155mln, while adjusted pre-tax profit is expected to be £135mln for the year-end, representing a roughly 10% increase on last year, the FTSE 250-listed firm said in a statement.
The group said it continued to trade strongly in the fourth quarter, carrying on the momentum it delivered in the third quarter.
As a result, it now expects revenue growth of at least 10% in the fourth quarter when compared to the same period last year.
Premier’s grocery division led the way, making market share gains, while sweet treats “demonstrated an improving trend,” the company said.
Net debt is expected to be “broadly” in line with last year.
Premier Foods’ share price was up 10% in early morning trading, changing hands at 126.4p.