Dough rises for Premier

Mr Kipling owner Premier Foods has warned it may have to up prices again for cakes, deserts and ingredients due to inflation.

Premier CEO Alex Whitehouse said that a combination of cost cuts and price increases had helped it cope with inflation in the first half but further price hikes may come in the second half. Whitehouse said Premier will try to offset inflationary pressures by

locking in commodities and energy prices. He added it would also “work hard on cost efficiencies to minimize impact”.

Over six months to October 1, Premier’s revenues rose 6.2% to £418.6million, while pre-tax profits rocketed 37.1% to £42.1million thanks to higher prices and lower debt repayment.