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Premier Foods PLC on Thursday said sales revenue grew in the last quarter amid an up-tick in branded sales. The St Albans, England-based company is a food producer offering brands that include Ambrosia, Batchelors, Bisto, Mr Kipling,/Oxo/and Sharwood’s. In the first quarter that ended June 29, sales revenue grew 5.3% to £239.3 million from £227.2 million the same time last year. Grocery sales were up 7.1%, with branded products growing 8.6%, and non-branded falling 5.1%. Sweet Treat sales rose 0.4%, as branded products increased 3.5% compared to a 16% decline in non-branded sales. Chief Executive Officer Alex Whitehouse said: ‘We have gained both value and volume market share in Grocery and Sweet Treats, as more shoppers bought more of our leading brands, delivering good volume growth across our categories. Mr Kipling, Nissin and the Spice Tailor were standout performers, and we continued to launch new products across the portfolio. ‘International sales grew by 24%, with strong growth in each of our overseas regions, and sales from new categories increased by 68%, led by Ambrosia porridge pots and Angel Delight ice-cream.’ A new five-year £227.5 million credit facility on improved terms came into effect in July, replacing a previous arrangement worth £175 million. Premier Foods expects to deliver further growth, with branded sales leading the way alongside further progress in overseas markets. ‘As we look forward to the rest of the year, we have a strong set of marketing and product innovation plans for our brands in the UK and Ireland, while we continue to build distribution internationally,’ Whitehouse added. Premier Foods shares were down 0.4% to 170.80 pence each in London on Thursday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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