UK: Premier Q4 "in line" after solid performance

By Katy Askew | 17 January 2013

  •  Q4 sales "in line"
  •  FY to meet market expectations 
Premier sees growth of "power brands"

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.

Show the press release

 

Premier Foods announces Fourth Quarter trading and Full Year results for 2012 in line with expectations

17 January 2013

Trading Update

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:

www.premierfoods.co.uk/investor-relations/results-centre/corporate-information.cfm

 

Original source: Premier Foods

Sectors: Bakery, Canned food, Condiments, dressings & sauces, Dried foods, Financials

Companies: Bisto, Sharwood

View next/previous articles

Currently reading -

UK: Premier Q4 "in line" after solid performance

There are currently no comments on this article

Be the first to comment on this article

Related research

Premier Foods: Power Brands Strategy

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 focusing on the company’s Power Brands. This case study ...

Related articles

UK: Premier rolls out "two-person" Bisto gravy sachets

Premier Foods has rolled out Bisto gravy sachets to encourage those eating as a pair to use gravy.

UK: Premier rolls out Oxo seasoning shakers

Uk food group Premier Foods has added a line of seasoning shakers to its range of products under culinary brand Oxo.

Comment: Is austerity Premier too focused on cost?

Premier Foods' new austere message has encapsulated the mood of the time. Gone are the days of frivolity - this firm is knuckling down and reducing complexity across the board. However, cutting costs may lead to higher margins - but the detail Premier has given on how it plans to invest behind its brands has been scant to say the least.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page