Shares in food giant RHM fell 12.25p to finish on 271.75p yesterday after the company warned in a trading statement that its profits would be skewed to the second-half of the year.

Its culinary brands division, RHM said, had been affected by an exceptionally hot summer, retailer destocking and an increasingly competitive environment.

Graham Jones, an analyst from Panmure Gordon, said: “The trading statement highlights a number of concerns and it seems clear that little progress is likely to be made at the first-half stage.”