Economy

Premier Foods Sees Third-Quarter Sales Rise In Non-Branded Goods

Premier Foods Sees Third-Quarter Sales Rise In Non-Branded Goods

Yesterday Premier Foods said that, in line with good corporate governance, it regularly reviews options to deliver value for all its stakeholders, and that such reviews do periodically involve discussions with third parties, including Nissin.

Premier Foods reported a rise in third-quarter sales on Tuesday, although Cadbury cake sales dropped in the United Kingdom and sales of Mr Kipling cakes also declined.

The company said group sales in the 13-weeks ended 30 December increased 4% year-on-year to £261.4m.

Six of its eight major brands gained market share while chief executive officer Gavin Darby highlighted progress in the global business, which saw a 26% increase in sales.

A drop in Mr Kipling sales also followed a move to "more optimal promotional activity", added the company, which recently extended the brand with the launch of lower-sugar cake slices.

Last Saturday it was reported that Nissin Foods, which is the biggest shareholder in Premier Foods, was in discussions with the company to buy the Batchelors brand.

Boss Gavin Darby praised Premier's tie-up with Nissin after playing down plans to sell Batchelors soup
Boss Gavin Darby praised Premier’s tie-up with Nissin after playing down plans to sell Batchelors soup

Another of Premier's star performers over the festive quarter was dessert food Angel Delight, which saw sales leap 30 per cent higher after the introduction of ready-made pots a year ago.

Batchelors Super Noodles in a pot, which are manufactured by Nissin, has now delivered more than £5 million in sales since its launch past year. Soba Noodles have also delivered £2 million in sales.

Premier's global sales grew 26% in the quarter, with continued progress in Australia, the launch of Mr Kipling and Cadbury cake in New Zealand and new listings for Sharwood's in Europe and the US. The company said Mr Kipling and Cadbury cake sales were impacted by a "move to more optimal promotional activity".

Chief executive Gavin Darby said: "With our leading category positions and commitment to product innovation, our expectations for progress this year remain unchanged".

Meanwhile a record 220m mince pies were sold over the Christmas period, while Bisto and Oxo benefited from advertising campaigns.

More news: May wants Brexit deal that works for whole of United Kingdom - spokesman


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