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Our Half year results for the 26 weeks ended 28 September 2019

Financial headlines

  • Half year Group revenue up +2.4%; Q2 Group revenue up +3.6%
  • H1 Branded revenue up +4.3%; Q2 Branded revenue up +5.6%
  • Trading profit ahead in addition to increased marketing investment
  • Adjusted profit before tax up +5.0% to £31.7m
  • Statutory profit before tax £15.0m; profit after tax £12.3m, both reversing prior year losses
  • Net debt £38.8m lower than a year ago on pre-IFRS 16 leases basis at £470.7m
  • On track to meet 3.0x Net debt/EBITDA by year end
  • Combined pensions surplus £588.7m (30 March 2019: £373.1m)
Strategic & operational headlines
  • Refocused Executive Leadership Team to increase consumer, customer and operational focus
  • Sustained quarterly branded growth fuelled by successful innovation strategy
  • Consumer marketing investment increased in H1 and set to continue in H2
  • Exciting innovation pipeline for H2, including new plant-based brand ‘Plantastic’ now in market
  • Increased rate of debt reduction due to strong underlying cash generation
  • International business returned to growth – Q2 revenue up +6%
  • Strategic review nearing conclusion 


New Plantastic range out now!

New Plantastic products will appeal to a growing number of health-conscious shoppers, looking for plant-based products on the go as part of flexible diets


Mr Kipling Signature Range

Mr Kipling is expanding its cake range with the launch of its new premium range, Signature Collection. 


Pug slices from Mr Kipling

Premier Foods is expanding its exceedingly good Mr Kipling range with the launch of a limited edition collection of pug-inspired products. Available in Tesco from Monday 12th August, and rolling out into other retailers at the end of this month, the collection includes a novel twist on some of the brand’s most well-known products – Whirls, Mini Batts and Slices.


Our Q1 Trading Update 2019/20

The Headlines: 

  • Q1 Group sales up +1.1%, Q1 Branded sales up +2.9%
  • Q1 UK sales up +2.6%, Q1 Branded UK sales up +4.9%
  • Market share gains in 7 out of 8 top brands
  • Increased marketing investment this year; Mr Kipling and Batchelors already aired – more to come
  • Sales of Mr Kipling, Group’s largest brand, up +10%
  • Expectations for the full year remain unchanged


Batchelors returns to TV with tasty new Super Noodles campaign.

Premier Foods is bringing its iconic Batchelors brand back to the UK’s screens, as part of a multi-channel campaign to promote its growing Super Noodles range. The TV advert launches on 2ndJune and will run through June and July.


Premier Foods brings chocolate lovers' dream to the cake aisle with...

We are extending our range of Cadbury Cakes with the launch of our new Cadbury Dairy Milk slices. This is the first time the iconic Dairy Milk brand will be available in the format, presenting a perfect opportunity for retailers to capitalise by stocking the well-loved product in a new part of the store. The slices come in three flavours: Cadbury Dairy Milk, Cadbury Dairy Milk Caramel and Cadbury Dairy Milk Raspberry. The range contains deliciously moist chocolate sponge, packed with real Cadbury Dairy Milk chocolate chunks and drizzled with Cadbury chocolate or caramel sauce to create the ultimate cake slice.


McDougalls Young Baker shortlist announced!

We're thrilled to announce the five shortlisted schools for our Foodservice McDougalls Young Baking Team of the Year competition.


Create your favourite Mr Kipling cakes at home

  • Premier Foods has launched a range of Mr Kipling baking mixes and finishings that allow consumers to recreate some of the brand’s most iconic flavours at home
  • Range includes British teatime favourites such as Cherry Bakewell and Apple Pie
  • Baking mixes and finishings represent significant growth opportunity within home baking; high-penetration brands such as Mr Kipling will drive this growth


Mr Kipling Cakes and Pies out of black plastic

As a founding member of The UK Plastics Pact, we’re committed to achieving 100% recyclability across our plastics packaging by 2025. And we’re already making good progress... in early 2019 we switched from using black to recyclable, clear plastic trays with a minimum 50% recycled content across our Mr Kipling cakes and pies, including national favourites Viennese Whirls and Cherry Bakewells. Today almost 70% of the plastics we use within our product packaging are recyclable.