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Premier Foods looking to speed up debt reduction
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Posted 13 October 2008 @ 08:15 am GMT
Premier Foods, Britain's biggest food manufacturer, said on Monday it is examining ways to cut debt and has been approached by several parties with proposals to enable it to do so.
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Premier Foods cuts dividend and rejigs debtPremier, which had net debt of about 1.8 billion pounds at the end of June partly due to its acquisitions of RHM and Campbell's in 2007, said it is examining these proposals among other options.
The group, which makes Hovis bread, Mr Kipling cakes, and Branston pickle, said trading continues to be broadly in line with expectations.
(Reporting by Matthew Scuffham; editing by Sue Thomas)
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