Shares continue to fall at Premier
SHARES in Premier Foods, the company which bought Lynn's Campbell's Factory, have continued to drop.
The food giant, which produces Mr Kipling cakes, Hovis bread and Quorn, saw its share price close at a record low of 92.5p on Tuesday, having briefly touched 81.5p during trading.
The slump comes amid a backdrop of soaring wheat prices, which broke the 12-a-bushel mark for the first time this week and have quadrupled in the past 12 months.
The business is believed to have debts of around 175 billion following its acquisition of Mr Kipling firm RHM last year and a 460 million takeover of the Campbell's factory, on Hardwick Road, in 2006. Full year results will be announced on Tuesday.
Premier is selling the Campbell's factory.
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Weather for King's Lynn
Saturday 04 February 2012
Today
Sunny spells
Temperature: -2 C to 2 C
Wind Speed: 17 mph
Wind direction: South
Tomorrow
Light sleet showers
Temperature: -2 C to 2 C
Wind Speed: 7 mph
Wind direction: South west
