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Preliminary results for Premier Foods for the 52 weeks ending 30th ...

  • Headline revenue up 15.1%; Branded revenue up 13.5%, including strong branded volume growth in Quarter 4
  • Total Headline Grocery revenue up 16.7%, Sweet Treats revenue up 10.6%
  • Full Year market share increased +29bps; both Grocery and Sweet Treats grew share in H2
  • Trading profit ahead of expectations and up 14.0% versus prior year
  • Adjusted profit before tax up 15.1% at £157.9m; adjusted earnings per share up 6.4% reflecting tax rate increase
  • Profit before tax up 34.7% to £151.4m
  • Profit after tax up 22.8%; basic earnings per share up 22.6% to 13.0 pence
  • Net debt/EBITDA reduced to 1.2x; lowest ever leverage
  • Pension deficit contributions suspended from 1 April 2024
  • On track for FY24/25 expectations


16/05/2024

Suspension of pension deficit payments

Premier Foods is pleased to announce that it has reached agreement with the RHM Pension Scheme Trustee to suspend pension deficit contribution payments from 1 April 2024.

06/03/2024

Quarter 3 Trading Update for the 13 weeks ended 30 December 2023

  • Q3 Group sales up 14.4% versus prior year; Q3 Branded sales up 12.7%
  • Grocery sales up 11.9%, Sweet Treats sales up 21.3%
  • Total market share increased by 121 basis points versus prior year
  • International sales up 11%, strong performances across strategic markets
  • Sales from New Categories up 108% versus prior year
  • Strong The Spice Tailor sales in both UK and International; FUEL10K is off to a good start
  • Well on track to deliver on previously upgraded expectations for full year


23/01/2024

Premier Foods and FareShare “Win a Dinner, Give a Dinner” goes nati...

Premier Foods, one of the UK’s largest food producers, is launching its biggest ever “Win a Dinner, Give a Dinner” promotion in support of food redistribution charity FareShare, as the competition expands to all major retailers across the UK.

18/01/2024

Half year results for the 26 weeks ended 30 September 2023

  • Branded revenue up +15.8%; Q2 branded revenue up +14.3%
  • Total Headline Grocery revenue up +24.6%, Sweet Treats revenue up +5.4%
  • Grocery market share increased +113bps
  • Trading profit +19.0%; margins continue to be in line with prior year
  • Increased marketing investment across all major brands, expanding Best Restaurant in Town campaign
  • Strong International progress; Mr Kipling distribution building in USA and further market share growth in Australia
  • New categories revenue increased +21% led by continued momentum of Ambrosia porridge pots
  • The Spice Tailor continues to build distribution and on track to deliver returns ahead of plan
  • FUEL10K acquisition completed early in H2, accelerating expansion into breakfast category
  • FY23/24 Trading profit now expected to be in the region of 10% ahead of prior year


16/11/2023

Acquisition of FUEL10K, accelerating expansion into Breakfast

Premier Foods today announces it has acquired FUEL10K, a vibrant Breakfast brand, with a portfolio of granola, oats and drinks products, as the Group significantly expands its presence in the Breakfast meal occasion.

Strategic Highlights:

  • FUEL10K is a differentiated, protein enriched Breakfast brand
  • On-trend proposition which attracts a predominantly young consumer demographic
  • Track record of strong double-digit revenue growth over the last three years
  • Substantially increases Group’s position in the Breakfast category, building on success of Ambrosia porridge pots
  • The Group expects to unlock significant future value through leveraging its proven branded growth model
  • FUEL10K‘s commitment to sustainability supports the Group’s purpose of Enriching Life Through Food


30/10/2023

Quarter 1 Trading Update for 13 weeks ended 1 July 2023

  • Q1 Group sales up 21.1% versus prior year, Branded sales up 17.5%
  • Further Grocery market share gains in the quarter, up another 94 basis points
  • Mr Kipling delivered record market share in Australia and continued to build further distribution in the US
  • New categories progress continues; sales of Ambrosia Porridge pots and Cape Herb & Spice more than doubled
  • FY23/24 Trading profit now expected to be at top end of market expectations


20/07/2023

Premier Foods ESG strategy reaches key milestone with independent v...

Premier Foods has announced that its 2030 decarbonisation targets have been approved by the Science Based Targets initiative (SBTi) following a rigorous validation process, meaning the food producer has some of the most ambitious targets for reducing emissions amongst UK businesses.

06/06/2023

Preliminary results for Premier Foods for the 52 weeks ending 1 Apr...

Headlines:

  • Full year Branded revenue up +9.1%; Q4 branded revenue up +15.9%
  • Total Grocery revenue up +15.3%, Sweet Treats revenue up +2.7%
  • Grocery market share increased +64bps compared to prior year
  • Trading profit +11.5%, ahead of upgraded guidance
  • Trading profit margins in line with last year as input cost inflation offset by cost savings and increased pricing
  • International revenue growth up +10% with record market share for Mr Kipling in Australia
  • New categories revenue increased +33% led by early success with Ambrosia porridge pots
  • Accelerated revenue growth of The Spice Tailor post acquisition; 12 month revenue +25%
  • Pensions cash contributions NPV reduced by c.50% to c.£125m and cash costs reduced by £6m from FY23/24
  • FY23/24 expectations for another good year unchanged


18/05/2023

This morning we released our Quarter 3 Trading Update for the 13 we...

Premier Foods today provides its Quarter 3 trading update for the thirteen weeks ended 31 December 2022

  • Q3 Group sales up 12.0% versus prior year; Q3 Branded sales up 8.8%
  • Particularly strong Grocery performance, Q3 sales up 17.4%
  • Grocery business continues to grow faster than its markets, gaining 66 basis points of value share
  • Sweet Treats Q3 sales down (0.9%)
  • International sales up 10%, another quarter of double-digit growth
  • Announcing proposed closure of loss-making, predominantly non-branded, Knighton manufacturing site
  • Well on track to deliver on FY22/23 expectations


19/01/2023