London, Sept 4 - Premier Foods, Britain's biggest food producer, said on Tuesday it expected to meet its full-year sales and profit targets, but it would need to raise bread and flour prices again if high wheat prices persist.
The firm, home to Branston Pickle and Oxo stock cubes, said operating profit before goodwill and one off items more than doubled to 96.8 million pounds ($195.4 million) in the six months to June 30, boosted by its recent acquisitions of Hovis maker RHM and Campbell Soup's UK and Irish operations.
However, underlying operating profit at the group's bread business halved amid a recent doubling in the price of wheat.