19 May 2015

Preliminary results for the financial period ended 4 April 2015

Premier Foods today announces its Preliminary results for the financial period to 4 April 2015, including unaudited pro forma results for the 52 weeks to 4 April 2015.

Investment strategy delivering results

- Last quarter branded sales broadly flat, continuing an improving trend
- Volume and value market share gains across our categories
- Marketing investment increased over 80% in last six months and delivering encouraging results
- Trading profit2,3 for 52 weeks to 4 April 2015 £131.0m in line with expectations
- Loss after tax (£92.7m) due to impairment charges
- Net debt of £584.9m in line with expectations
- Combined pension deficit reduced to £211.8m from £603.3m

Gavin Darby, Chief Executive Officer: 
“For the last quarter, I am pleased to again report an improving sales trend, which has benefitted from a combination of brand investment, exciting new products and strong retail execution. Across our branded portfolio, we have delivered volume and value share gains, while we have driven growth in our cake and flavourings & seasonings categories.

Over the last twelve months, six of our major brands have benefitted from TV advertising and we have launched a number of new products to market, with more to come this year. We have also made good progress with our major customers and we now hold significantly more category captaincy roles than we did three years ago.

While it is encouraging to note the return of volume growth to both our categories and the wider grocery market, we expect the near term trading environment to be challenging, and our expectations for the year are unchanged. I remain confident that our strategy of investing in brands, innovation and infrastructure is the right one for Premier Foods, and see increasing evidence that our efforts are starting to pay off. The Board is firmly focussed on the creation of future value, and believes that its investment and growth strategies, combined with a focus on cost efficiency, Trading profit delivery and organic de-leveraging, are well positioned to deliver success.”

Read our full news release.

05 May 2015

New TV campaign and flavours for delicious Cadbury Mini Rolls

Previous article

09 June 2015

Annual Report and Accounts and Notice of AGM

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