(Reuters) -Premier Foods plans to close a beverage manufacturing site in the UK, affecting about 300 jobs, the company said on Thursday, after reporting higher third-quarter sales on robust demand and new product launches.
The maker of Mr Kipling cakes and OXO cubes said it is entering into talks for the proposed closure of its Knighton site, which manufactures powdered beverages.
The company’s sales rose 12% in the three months ended Dec. 31.
However, Premier Foods retained its full-year outlook, and said that input cost inflation remained high. The group was offsetting these pressures by raising prices annually and cutting expenditure.
The results come as Britain’s grocery sector battles costs-of-living pressures and supply disruptions due to the conflict in Ukraine, with surging prices having caused the biggest squeeze on UK household income since at least the 1950s.
(Reporting by Muhammed Husain in Bengaluru; editing by Uttaresh.V)
