Premier Foods sales up six per cent for quarter
Premier Foods saw sales rise by six per cent in the first quarter of its financial year.
The group, which has its Knighton Foods powders subsidiary at Adbaston, near Stafford, said it performed strongly in the three months to July 2 and was firmly on track to deliver full year expectations.
Branded sales were up 4.2 per cent for the group and international sales rose 12 per cent.
Chief executive Alex Whitehouse said market share had increased both in store and online.
"Our recently launched new products include a healthier range of Mr Kipling Deliciously Good cakes and authentic East Asian Sharwood's cooking sauces while Mr Kipling benefitted from a new TV advertising campaign in the quarter. Sales overseas increased by 12 per cent due to a particularly strong cake performance in Australia, where Mr Kipling delivered its highest ever market share."
"We have made good progress in recovering our input cost inflation through a range of measures, including cost efficiencies and pricing, and we continue to monitor the situation closely. Consumers are increasingly looking to cook tasty affordable meals at home; this fits well with our broad portfolio of brands and was illustrated by the strong performance of Batchelors and Nissin in the quarter. With this positive trading momentum behind us, we remain firmly on track to deliver our expectations for the year."
Grocery sales increased by 6.3 per cent in the quarter, with branded sales 4.5 per cent ahead of the prior year.
Sales in sweet treats increased by 5.1 per cent, with branded sales up 3.3 per cent and non-branded sales 26.8 per cent higher than last year.
The group hs made good progress has been made in recovering industry wide input cost inflation through a range of measures, including cost efficiency and pricing action and the group continues to monitor the situation closely.
Premier Foods employs more than 4,000 people operating from 15 sites across the country.
