Premier Foods has issued a statement claiming that trading is as predicted after shares slumped on Friday.
The company – which produces a number of household brands such as Cadbury, Hovis and Bisto – said that it will not be looking to raise any further equity.
Coming after it revealed on Monday that it is trying to find investors to supply a cash injection, Premier Foods told the London Stock Exchange that sales are around 9% ahead of this time last year.
“Premier anticipates meeting its financial covenants at 31 December,” it commented.
But it said: “Premier Foods notes with concern the fall in its share price since 13 October.”
Shares in the company lost almost half their value on Friday (17 October) after rumours that Premier Foods has got into difficulty with banks.
