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Pressure grows on Premier

The maker of Mr Kipling cakes has suffered a difficult 12 months
The maker of Mr Kipling cakes has suffered a difficult 12 months
ALAMY

Premier Foods, the maker of Mr Kipling cakes, will unveil another disappointing set of figures this week amid growing pressure on its chief executive.

Premier, which also owns Bisto gravy and Ambrosia Custard, is expected to report like-for-like sales slipping by 1.6% in the three months to July, according to analysts at Jefferies.

The company has suffered a difficult 12 months, posting a series of profit warnings because of the rising cost of key ingredients and sterling-related inflation. It holds its annual meeting this week.

The woes have led to increased pressure on chief executive Gavin Darby, who knocked back a £537m takeover offer from the US food company McCormick & Co last year. Premier shares closed at 39.5p on Friday, giving the company a market value of just £324.9m.