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Premier Foods reports solid Q3 performance

21st Jan 2016 - 13:03
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Abstract
Premier Foods has reported 0.1% increase in Group sales to £208m but a 1% decline in branded sales for the 13-week period ended 2nd January 2016.

In the year-to-date, total sales are up 0.3% to £586.2m, boosted by a strong performance in non-branded, with sales up 5.3% to £71.6m.

Gavin Darby, chief executive officer, said: “Our third quarter Group sales performance was solid, particularly against the background of a broader food sector where top-line growth was negative. As expected our Sweet Treats business performed very well, with sales up 6.5% due to a strong innovation programme, especially in Cadbury cake.

“In 2015 we sold 185 million mine pies, 8% more than last year, which supported growth in Non-branded and reflected a great performance by the team.”

In the Grocery division, sales were 2.7% lower than the previous year at £166.8m. Branded sales were 3.1% lower at £155m and non-branded sales increased 4.2% to £11.8m.

Sales of Bisto and Oxo grew in the quarter, with Bisto achieving its highest ever share in December. Sales of Ambrosia were lower in the quarter, and sales of Sharwood’s, Loyd Grossman and Homepride were also marginally down in the quarter.

International sales continued to grow, following a strong performance in Q2, hitting 9.8% at constant currency, reflecting a strong performance in Australia and North America in the period.

Premier Foods is a British food manufacturer, founded in 1975, and owns many brands including Mr Kipling, Bisto, Homepride and Cadbury cakes.

Written by
PSC Team