Premier Foods discovers the market likes profits almost as much as cake

Premier Foods (LSE:PFD) shares rose 4.1% to 205.4p after the Mr Kipling and Bisto maker reported stronger-than-expected annual profits, increased its dividend and said it planned to introduce an interim payout next year. The food manufacturer said trading profit for the 52 weeks to 28 March rose 6.7% to £200.4 million, ahead of expectations, while adjusted pre-tax profit increased 8.5% to £183.6 million.