Media

07 October 2011

IMS for three months ended 30 September 2011

-

PREMIER FOODS PLC

INTERIM MANAGEMENT STATEMENT FOR THE THREE MONTHS ENDED 30 SEPTEMBER 2011

7 OCTOBER 2011

Premier Foods today reports trading results for the three months ending 30 September 2011.

  • Group results for Q3 significantly below our expectations
  •  Group total sales of £477m down 3.6%
  •  Value market share in Q3 declined by 1.9%
  •  Full Year trading profit expected to be below market expectations
  •  Constructive dialogue with banks on refinancing
  •  New CEO outlines initial steps to restore profitable growth

Michael Clarke, Chief Executive Officer, comments:

“I’ve covered a lot of ground during my first weeks with Premier Foods and am convinced that there are substantial opportunities here but there are also significant challenges that we have to overcome.  We have brands that consumers like and talented, passionate people who are determined to turn the business around.

“While the current trading performance continues to be disappointing and significantly behind our expectations, we have already identified a number of steps to build a more profitable business. These include focusing on 8 ‘Power Brands’, strengthening our sales and marketing execution and reducing our cost structure.

“Our immediate priority is to conclude discussions with the banks to revise our banking covenants and put in place refinancing facilities. This process is well underway and we are hoping to reach a successful conclusion in due course.

 “I will share further details about our key priorities at our Full Year results presentation, early in 2012.” 

The full IMS can be viewed below:

#request.oFMSBhv.render(file_uuid="DA7E6361-1851-505D-DF14-2EBA4412AF1E",caption="OCT IMS FINAL.pdf",href="/shadomx/apps/fms/fmsdownload.cfm?file_uuid=DA7E6361-1851-505D-DF14-2EBA4412AF1E&siteName=premierfoods",file_name="Premier Foods Q3 IMS 2011.pdf",file_type="pdf",behaviour="default",src="/shadomx/apps/fms/admin/pics/icon_pdf.gif")#

 


23 August 2011

Premier Foods announces new Group Sales Director

Previous article

20 October 2011

Premier Foods wins top operational accolade in Europe

Next article

Brands people love

You'll find one of our much loved brands in 96% of British households.

Our brands

100 years of history

When were Mr. Kipling cakes invented? Where does the name Bisto come from?

Our heritage

Playing our part

Caring for the environment, and building trust in our supply chain.

Our part

Stay up to date by email

Subscribe