Mr Kipling maker Premier Foods' profit beats expectations

Premier Foods PFD beat market expectations for its full-year profit, helped by robust demand as customers opted for their quick meals like mince pies and gravies.

The maker of Mr Kipling cakes and OXO cubes posted a 157.9 million pounds ($200.20 million) adjusted profit before tax for the year ended March 30, a 15.1% jump from a year ago.

Analysts, on average, forecasted profit for the year to be about 153 million pounds, according to a company-compiled consensus.

($1 = 0.7887 pounds)