UK: Revenue rises but Premier again ups bread prices
Premier Foods has seen acquisitions boost sales but, in a bid to boost profits from its bakeries business, the UK group said it had again upped its bread prices.
The company, which makes brands including Bisto gravy and Ambrosia custard, said sales were "significantly ahead" during the four months to the end of October, due to the acquisitions of Campbell's UK and Irish business and RHM.
Premier Foods said sales were up 3% on a pro forma basis. Revenue from its "core" business also rose by around 3%.
However, in a bid to boost profits from its bakeries business, Premier Foods said it had again upped its bread prices.
The company, which makes Hovis bread, confirmed predictions that it would increase bread prices again following a similar hike in September.
"It became necessary to implement a further price increase in the last week in October to mitigate the margin impact of the unprecedented increase in wheat costs seen during the summer," the company said.
Premier Foods' spreads and desserts business saw branded sales rise. Campbell's has seen "good growth", the company said, although it warned that it had "yet to see an improvement" from its core convenience foods business, which includes Branston Pickle.
Sales of cakes and culinary brands were both up by 3%, Premier Foods added.
just-food's coverage of the Food Forum India 2008 conference in Mumbai was a highlight this week and some bullish comments from Future Group CEO on India's potential proved popular among this week's t...
Indian retailers are looking to expand their range of imported foods to cater for growing demand among the country's ever-more wealthy middle class....
Premier Foods has put its French bakery unit Sofrapain up for sale, just-food understands....
Premier Foods is expanding its Hartley's dessert range with a new line of dessert sauces made with "pure fruit"....
Premier Foods has relaunched its range of Ambrosia Layers desserts with an "improved" recipe and "revamped" packaging....
This week, concerns over the environment, food safety and - once again - commodity prices proved popular on our pages. Beijing made a bid to convince the world of its seriousness in tackling food safe...
UK seafood group Young's has restructured its marketing team under the leadership of newly-appointed marketing director, Yvonne Adam....
Premier Foods is reportedly contemplating the sale of two customer partnership units that primarily produce own-brand foods for Marks & Spencer....
- Unilever 2016 investor day - the top takeaways
- Have food promotions reached tipping point?
- Mondelez goes beyond certified cocoa - analysis
- What Premier CEO Gavin Darby thinks about Brexit
- How Tyson's new CEO plans to grow the meat group
- Nestle unveils process to cut sugar by 40%
- Unilever sets new margin target with help from ZBB
- Unilever focuses on "value" of spreads arm
- Putin 'wants embargo to run as long as possible'
- McCormick to buy flavours business Enrico Giotti