London, January 18, 2024 — Premier Foods, the renowned U.K. food manufacturer known for its popular brands such as Mr. Kipling, Ambrosia, and Bisto, announced impressive sales growth in the third quarter of its fiscal year. The company is well on track to meet expectations for the full year.
According to the latest figures released by Premier Foods on Tuesday, group sales increased by a remarkable 14% in the period ending December 30. Branded sales experienced a notable spike of 13%.
The grocery segment witnessed a solid surge of 12% in sales, with sweet-treat sales soaring by an astonishing 21%. International sales also performed well, registering an impressive growth rate of 11% across key strategic markets.
Within the flavorings & seasonings category, Premier Foods' brands enjoyed a successful festive season. Brands like Bisto, Oxo, and Paxo achieved significant growth in both their core and new product ranges. Sales from new categories more than doubled in the quarter, and Ambrosia Porridge pots notably benefited from the introduction of the new apple & blueberry flavor.
Premier Foods attributed its positive performance partly to lower promotional price points introduced during the period. Encouraged by these results, the company plans to extend these lower prices to additional products in the fourth quarter of fiscal 2024.
CEO Alex Whitehouse expressed confidence in the company's future prospects, stating, "With another strong period of trading behind us, and great plans for the coming months, we are well on track to deliver on profit expectations for this year."
As of 0800 GMT, Premier Foods' shares were up by 0.40 pence or 0.3%, reaching 140.60 pence.
For media inquiries, please contact Premier Foods Media Relations.
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