Mr Kipling owner Premier Foods today reported a 2 per cent in sales for its key brands, boosted by a range of products to tie in with the recent Jubilee celebrations.
The group said Mr Kipling sales “increased strongly” after it launched a “snack-pack” format and other Jubilee-related products such as Mini Classics.
Sales at its Power Brands portfolio, which also includes Batchelors and Loyd Grossman, rose to £418.9 million in the six months to 30 June, up from £410.5m a year earlier.
Premier, which had a net debt of £1.3 billion at the end of the first half, is selling off non-core products to focus on eight key brands in a bid to turn around its business.
The ongoing restructuring meant it recorded bottom-line losses of £27.3m, compared with profits of £11.2m last time, but focusing on the eight main brands its trading profits were 3.2 per cent higher at £53.2m.
Chief executive Michael Clarke said: “Plans to simplify the business and drive further efficiency and effectiveness are proceeding ahead of plan and we will now deliver the previously announced £40m savings by the end of 2012.
“As we continue our divestment programme, we plan to take further costs out of the business.”