Shares in Premier Foods rose 1p to finish on 317p yesterday following the release of the food manufacturer's half-year results.

It reported a 123.2% increase in half-year pre-tax profit to 1 July of £27.9m, on sales up 18.4% at £430.5m.

Analysts said that the results were encouraging. Andrew Saunders from Numis Securities added: "We believe the investment picture will be further complemented by the forthcoming Campbell's acquisition and a possible deal with McVities."