Premier Foods has reported a 12.2% rise in pre-tax profit, despite rising energy and raw material costs.

The group, which owns Branston Pickle, Oxo stock cubes and Crosse & Blackwell cooking sauces, said pre-tax profit for 2006 was £58.1m compared with £51.8m a year ago. Turnover grew 21.5% to £959.4m.

“2006 has been a year of transformation for Premier,” said chief executive Robert Schofield. “The Campbell's business acquired in August fits Premier like a glove.

“It has significantly enhanced our brand portfolio, adding the iconic British brands of Oxo, Batchelors and Homepride whilst offering us substantial operational synergies. The integration has been proceeding at pace and to plan.”

Schofield said Premier's acquisition of RHM is due to complete on 16 March.

“Above all, these acquisitions have been achieved whilst we have continued to grow our existing business, which has more than compensated for the impact of the end of the Cadbury chocolate beverages licence, significant raw material and energy price inflation and the extended warm weather through the summer and autumn,” he said.