UK: Premier Q4 "in line" after solid performance
- Q4 sales "in line"
- FY to meet market expectations
Premier sees growth of "power brands"
Premier Foods has indicated that its fourth-quarter sales were "in line" with expectations, despite "challenging" trading conditions in the period.
The company said this morning (17 January) that it booked a "solid" performance in the three month period, thanks to "growth momentum" behind its "power brands". In 2011, the group outlined a strategy to focus on the eight brands that offered greatest potential for growth: Batchelor's, Lloyd Grossman, Bisto, Ambrosia, Hovis, Mr Kipling, Oxo and Sharwood's.
The company confirmed that fiscal 2012 results are expected to meet market expectations. Analysts estimates put Premier's 2012 profit before tax at approximately GBP32m, including exceptional items.
CEO Michael Clarke commented: "While the market continues to be challenging, I'm encouraged by the progress we have made in 2012. This provides a solid platform to continue our growth momentum in 2013."
Premier is scheduled to publish its preliminary results for the 2012 on 21 February.
Premier Foods announces Fourth Quarter trading and Full Year results for 2012 in line with expectations
17 January 2013
Premier Foods today confirms that fourth quarter trading for 2012 was in line with its expectations reflecting a solid performance during the quarter and continuing the growth momentum behind its Power Brands seen in the first three quarters of the year.
The Company confirms its Full Year results for 2012 are expected to be in line with current market expectations.
Commenting on progress, Michael Clarke, Chief Executive Officer, said:
"While the market continues to be challenging, I'm encouraged by the progress we have made in 2012. This provides a solid platform to continue our growth momentum in 2013."
Preliminary Results 2012
Preliminary results for 2012 including an update on business strategy will be released on 21 February 2013. A presentation to investors and analysts will be made at The Lincoln Centre, 18 Lincoln's Inn Fields, London WC2A 3ED on 21 February 2013 at 9:00am.
A schedule illustrating 2011 Full Year results Ongoing business, re-stated for disposals announced in 2012, can be found on the Company website at the address below:
Original source: Premier Foods
A number of costly acquisitions led to huge debts for Premier Foods, which coupled with declining sales led to the company being in financial difficulty. In early 2012 a strategy was introduced focusi...
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