London / UK. (pf) Premier Foods PLC will further increase the price of its bakery products if the cost of wheat remains high, the company explains in its announcement about interim results for the six months to June 30. In the first half year 2007 sales decreased 1,1 percent in the bread bakeries segment to 398,4 million GBP compared to 402,8 million GBP in the same period 2006, while organic profit dropped 49,9 percent to 19 million GBP. The company says the falls are due to higher wheat prices, increased distribution costs and a decline in the consumption of bread in the United Kingdom (full text).
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