Premier Foods said cost inflation has peaked with full-year profits expected to be at the top end of market expectations.
“We believe the recent period of significant cost input inflation is now past its peak and have no further price increases planned for the rest of 2023,” chief executive Alex Whitehouse said.
The news comes as inflation fell to 7.9% in June from 8.7% in May, also beating market expectations of 8%.
Mr Kipling's owner added that first quarter sales to 1 July were up 21.1% year-on-year, a statement said.
Looking ahead, it now expects trading profit for the full year to top market expectations.
"We've made a strong start to the year, sustaining the positive momentum from previous quarters, with first-quarter sales growth of 21.1%, branded sales up 17.5% and further grocery market share gains,” said Whitehouse.
“Our portfolio, which helps consumers make good value and nutritious, tasty meals at home, continues to demonstrate a high level of relevance in the current, challenging economic climate."