Premier Foods plc, the UK’s largest food maker, today (27 April) booked a 5.1% fall in first-quarter revenues as January’s cold snap froze sales.
The company said its total sales reached GBP606m (US$932.2m) for the three months to the end of March, with sales to foodservice outlets down 50% after the snow closed businesses and schools.
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The slump in foodservice outlets meant sales from Premier’s “defend” brands fell 6.7%. Sales of its “core” brands, which include Oxo and Bisto, dipped 1.1% as Premier promoted the brands less than a year earlier.
However, sales of Premier’s flagship “drive” brands, including Hovis bread and Mr Kipling cakes, grew 3.4% thanks to “strong” performances from Sharwoods cooking sauces and Hartley’s jam.
Chief executive Robert Schofield added: “We are pleased that our brands have continued to gain volume market share with volumes of our drive brands up 6.6%. Trading conditions, however, remain challenging with promotional activity across the market continuing at elevated levels.”
Click here for the full statement from Premier; click here for Premier’s comments on its rivals in the bread category.
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