The Headlines:
This morning we announced our Q1 Trading Update:
• Q1 Group sales up +22.5%, Q1 Branded sales up +27.0%
• Q1 UK sales up +23.0%, Q1 Branded UK sales up +27.9%
• Outperforming the market in every category
• Online growth of +115%; ahead of the channel and gaining +2.7ppts share
• Strong household penetration growth, particularly for Grocery brands
• Advertising investment increasing from four to six major brands this year
• Recently upgraded expectations for the full year unchanged; initial Q2 volumes remain elevated
29/07/2020