Angel Delight boost
BOOMING sales of Angel Delight desserts and Cadbury cakes sweetened half-year results at Premier Foods.
Shares in the company, which also makes Ambrosia custard and Bisto gravy, surged 6pc after it reported a 1.5pc rise in revenues to £353.3m for the 26 weeks to the end of September. Profits were up 2.3pc to £22.5m.
Business was driven by a 7.8pc rise in convenience foods made by Batchelors, such as Super Noodles, and a 30pc rise in sales of Angel Delight, which was relaunched this year in ‘singleserve’ pots.
Mr Kipling and Cadbury cakes went down a storm in Australia, and the firm clinched a new agreement in May with Cadbury to extend a lucrative licensing deal to at least 2022.
Gavin Darby, chief executive, said: ‘We continue to expect the business to make progress in the second half of the year and our expectations for the full year remain unchanged.’
Shares in the firm rose 6.2pc, or 2.25p, to 38.75p.