Revamped Premier Foods trims debt

By The Newsroom

Published 14th Feb 2011, 20:26 BST

Updated 15th Feb 2011, 21:00 BST

A SLIMMER Premier Foods yesterday revealed its debt mountain now stood below £1 billion as the maker of Mr Kipling cakes posted better-than-expected profits.

The UK's biggest food manufacturer has recently sold its Quorn meat-free business and its canned grocery operation, including Crosse & Blackwell, for a combined 387 million in order to cut debt. It revealed a slight increase in trading profits for 2010 to 311m.