Premier Foods plc said that it is confident of achieving full-year profits in-line with market expectations as it revealed that sales growth had accelerated in its third quarter.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Bisto-to-Hovis maker said that total branded sales were up 6% in the quarter, ended 26 September. Gains were led by a 22% jump in sales of Hovis bread.
Total grocery sales increased only 2%, however, due to an 8% fall in own label products and lower sales of bread and bulk flower.
“As we enter the important Christmas trading period, we remain confident of achieving adjusted profit before tax for the full year within the range of market expectations,” said chief executive Robert Schofield.
Premier gave the range of market expectations as GBP162-186m (US$263.4-302.2m).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe company added that it expects to generate good cash flow in the second half, with a continued focus on debt reduction.
For the full press release click here, or check back later for just-food’s insight into Premier’s third quarter.
