Premier Foods : This morning we released our Quarter 3 Trading Update for the 13 we...
January 19, 2023 at 02:10 am
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This morning we released our Quarter 3 Trading Update for the 13 weeks ended 31 December 2022
19/01/2023 : Premier Foods today provides its Quarter 3 trading update for the thirteen weeks ended 31 December 2022
Q3 Group sales up 12.0% versus prior year; Q3 Branded sales up 8.8%
Particularly strong Grocery performance, Q3 sales up 17.4%
Grocery business continues to grow faster than its markets, gaining 66 basis points of value share1
Sweet Treats Q3 sales down (0.9%) • International sales up 10%2 , another quarter of double-digit growth
Announcing proposed closure of loss-making, predominantly non-branded, Knighton manufacturing site
Well on track to deliver on FY22/23 expectations
Alex Whitehouse, Chief Executive Office
"We delivered a strong trading performance in our important third quarter, with sales growth of 12% compared to the same period last year. These results illustrate the continuing appeal of our portfolio of market-leading brands in such a challenging environment and demonstrate the strength and resilience of our branded growth model." "Our major Grocery brands produced a particularly good set of results for us, continuing to grow faster than the market, taking 66 basis points of share1 . Across the country, people got cooking again this Christmas, demonstrating that the Best Restaurant in Town really is at home. Many of our leading brands grew strongly, with established seasonal favourites including Ambrosia custard and new launches such as Bisto pigs-in-blankets gravy granules all proving very popular. Mr Kipling had another strong performance, with the introduction of our non-HFSS Deliciously Good Festive Pies helping to grow our Mince Pie market share. Meanwhile, our International business has now reported another quarter of double-digit sales growth, with Sharwood's growing over 20% following major new listings in Canada." "Input cost inflation remains at elevated levels, and we continue to take action to offset this inflation through a range of measures. With strong trading momentum as we enter our final quarter of the year, and with more brand investment and new product launches to come, we are well on track to deliver on expectations for the full year."
To read and download the full RNS of our Quarter 3 Trading Update,please click here
Premier Foods plc published this content on 19 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2023 07:09:07 UTC.
Premier Foods plc is a United Kingdom-based food producer company. The Company's segments include Grocery, Sweet Treats, and International. The Grocery segment primarily sells savory ambient food products. The Sweet Treats segment sells primarily sweet ambient food products. The Company operates in approximately 15 sites across the country. It provides a range of retail, wholesale, food service and other customers with its brands. It operates primarily in the ambient food sector across United Kingdom grocery market. It operates in four grocery categories, namely Flavourings & Seasonings; Quick Meals, Snacks & Soups; Ambient Desserts and Cooking Sauces & Accompaniments. In addition, the Company has a portfolio of other branded food products and a non-branded food business, which manufactures products, such as cakes and desserts, on behalf of various United Kingdom food retailers, as well as a business-to-business (B2B) business supplying food products and ingredients.