Business
Half-year Report
Half-year Report.
About this update from Premier Foods Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4586S\n Premier Foods plc\n 16 November 2021\n \n \n \n \n 16 November 2021\n \n \n Premier Foods plc (the \"Group\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Half year results for the 26 weeks ended 2 October 2021\n \n \n \n \n \n \n \n \n \n First half revenue ahead of guidance, firmly on track to deliver full year expectations\n \n \n \n \n \n \n \n \n \n Headline results\n \n \n \n \n FY21/22 H1\n \n \n \n \n FY20/21 H1\n \n \n \n \n Change vs 1yr ago\n \n \n \n \n Change vs 2yrs ago\n \n \n \n \n \n \n Revenue (£m)\n \n \n \n \n 394.1\n \n \n \n \n 421.5\n \n \n \n \n (6.5%)\n \n \n \n \n +7.5%\n \n \n \n \n \n \n Trading profit1 (£m)\n \n \n \n \n 57.8\n \n \n \n \n 65.8\n \n \n \n \n (12.2%)\n \n \n \n \n +13.1%\n \n \n \n \n \n \n Adjusted profit before taxation4 (£m)\n \n \n \n \n 46.4\n \n \n \n \n 47.7\n \n \n \n \n (2.9%)\n \n \n \n \n +46.3%\n \n \n \n \n \n \n Adjusted earnings per share7 (pence)\n \n \n \n \n 4.4\n \n \n \n \n 4.5\n \n \n \n \n (3.8%)\n \n \n \n \n +44.5%\n \n \n \n \n \n \n Net debt9 (£m)\n \n \n \n \n (345.0)\n \n \n \n \n (403.1)\n \n \n \n \n 14.4% lower\n \n \n \n \n 30.0% lower\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Statutory measures\n \n \n \n \n FY21/22 H1\n \n \n \n \n FY20/21 H1\n \n \n \n \n Change vs 1yr ago\n \n \n \n \n Change vs 2yrs ago\n \n \n \n \n \n \n Operating profit (£m)\n \n \n \n \n 51.3\n \n \n \n \n 65.2\n \n \n \n \n (21.3%)\n \n \n \n \n +42.9%\n \n \n \n \n \n \n Profit before taxation (£m)\n \n \n \n \n 30.7\n \n \n \n \n 50.5\n \n \n \n \n (39.2%)\n \n \n \n \n +104.7%\n \n \n \n \n \n \n Basic earnings per share (pence)\n \n \n \n \n 2.5\n \n \n \n \n 5.1\n \n \n \n \n (51.0%)\n \n \n \n \n +66.7%\n \n \n \n \n \n \n \n \n \n Non-GAAP measures above are reconciled to statutory measures throughout\n \n \n \n \n \n \n \n \n \n Financial headlines\n \n \n \n \n \n \n Compared to 2 years ago\n \n \n · \n Q2 Group revenue up +8.5%, Q2 branded revenue ahead +13.3%\n \n \n · \n H1 Branded revenue up +11.4% reflecting strength of Group's branded growth model\n \n \n · \n Trading profit +13.1% ahead \n \n \n · \n Adjusted profit before tax £46.4m, up +46.3% due to trading performance and significant interest cost savings\n \n \n · \n Statutory p...