Mr Kipling’s bumper Christmas

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A bumper Christmas for relaunched cake brand Mr Kipling helped boost the outlook for owner Premier Foods after a challenging autumn.

The company, whose other brands include Oxo, Bisto and Sharwood’s, said sales of its frontline brands were 3.5 per cent lower in the quarter to December 31, compared with a decline of 5.1 per cent in the previous quarter. Shares surged as the company said its market share in December was the highest it has been for the last four years, driven by improved sales of Mr Kipling after a relaunch earlier in the year.The company’s largest brand achieved its best market share in over a year.