Premier Foods Posts First Quarter Sales Rise
The producer of brands such as Bisto gravy and Mr Kipling managed to see its quarterly sales raise by 1 percent to 427 million pounds.
25 April 2012 --- Premier Foods, Britain's biggest food manufacturer, said first-quarter sales rose slightly and its cost cutting and restructuring programme was on track.
The producer of brands such as Bisto gravy and Mr Kipling managed to see its quarterly sales raise by 1 percent to 427 million pounds.
Premier Foods, whose debt ballooned following the acquisitions of RHM and Campbell Soups' UK and Irish business in 2006, has been selling assets and cutting costs and jobs.
The company continues to invest behind its eight Power Brands, sales of these products increased by 3.7% over the quarter.
Michael Clarke, Chief Executive Officer said: “These first quarter results are in line with our expectations. The consumer environment continues to be very challenging and our focus for 2012 remains unchanged; to stabilize the business and invest in our recovery.
“In this year of British celebration, we believe that more and more of our retail customers and consumers will be choosing to buy British brands like ours, made in Britain, supporting British jobs.
“We have a solid programme in the second quarter to support Power Brands sales including further advertising, targeted promotions and new product innovation such as the recently launched Hovis Farmer’s Loaf with 100% British wheat, Batchelors Deli-Box range of convenient meals, Ambrosia rice snack pots and a limited edition range of Mr.Kipling cakes celebrating the Queen’s Diamond Jubilee.”
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