SHARES in Premier Foods fell 4.7 per cent as the Oxo to Mr Kipling producer said that it was selling off its frozen foods business and revealed that comparative sales during the first six months of the year are expected to dip, hit by competition for bread and rising wheat prices. The company is understood already to be in talks about the sale of the division, group, acquired with the £1.
2 billion purchase of RHM in December. The frozen foods business generates annual sales of £50 million and manufactures no-label products which supermarket groups then re-brand with their own. SHARES in Premier Foods fell 4.
7 per cent as the Oxo to Mr Kipling producer said that it was selling off its frozen foods business and revealed that comparative sales during the first six months of the year are expected to dip, hit by competition for bread and rising wheat prices.
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