Profit warning sees feast of Premier Foods share buying

SEVERAL directors have been increasing their stakes in Premier Foods after shares in the company were hit hard by a profits warning earlier this month.

Rising raw material costs were blamed for the warning that third-quarter results were significantly below the company’s expectations.

Premier Foods, which owns brands such as Hovis, Indian foods label Sharwood’s and Batchelors soup, said sales volumes had fallen 8 per cent in the three months to 30 September.