21 January 2016
We announce our Q3 Trading Update for 13 weeks ended 2 January 2016
"Our third quarter Group sales performance was solid, particularly against the background of a broader food sector where top-line growth was negative. As expected, our Sweet Treats business performed very well, with sales up 6.5% due to a strong innovation programme, especially in Cadbury cake. In 2015, we sold 185 million mince pies; 8% more than last year, which supported growth in Non-branded and reflected a great performance by the team."
"While we are encouraged by the results of our innovation programme to date, Grocery sales were held back in the quarter due to an unexpectedly mild December and a decision to reduce promotional activity of Ambrosia. Sales in our International business continued their strong trajectory from Q2, growing by 10% in the quarter3. We have a strong innovation programme in place for the fourth quarter and our profit and Net debt expectations for the full year remain unchanged."
Group sales in the third quarter were slightly ahead of the same period last year. Branded sales were (1.0%) lower reflecting milder weather in December, principally impacting Grocery, but offset by a stronger Non- branded performance due to contract gains, especially mince pies in Sweet Treats.
Sweet Treats delivered a very strong performance in the quarter, growing sales by 6.5% compared to the prior year. Within this, Branded sales increased 6.0% and Non-branded sales were up 7.5%. In the first three quarters of the year, sales increased by 3.3% in Sweet Treats, with healthy growth coming from both the Branded and Non-branded parts of the business.
13 November 2015
09 March 2016
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