Premier Foods reveals falling sales

<p>Sales have fallen at Premier Foods.</p>

Premier Foods has seen its share price take a dramatic hit after the firm announced that it has witnessed a fall in its sales.

The company, which owns brands such as Bisto and Mr Kipling among others, revealed that demand for its hot products such as soups and cooking sauces fell because of the hot summer.

Sales growth of its frontline brands were shown in its latest financial results to have halved in the three months to the end of September.

Bread sales were down for the company as well, with group underlying sales overall down by 3.2 per cent as a result.

Yesterday's (October 31st) trading session saw the share price of the firm drop by more than 15 per cent and its stocks are down again today.

At 12:51 GMT this afternoon, the share price of Premier Foods was over 25 per cent down on the start of the session.

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