The bakery firm behind Mr Kipling has enjoyed a strong start to the financial year – after seeing sales increase in the first quarter.
For the 13 weeks to June 29, Premier Foods – which employs almost 600 people at its Stoke-on-Trent factory – has seen group sales rise by more than one per cent compared to the same period last year, and sales of branded products rise by almost three per cent.
While sales of its largest brand – Mr Kipling – have increased by 10 per cent alone.
Premier Foods boasts a portfolio of popular brands including Ambrosia, Sharwood’s, Bisto and Cadbury cake.
Alastair Murray, acting chief executive officer at Premier Foods, said: “I am pleased to report an encouraging start to the year with group sales up 1.1 per cent and ahead 2.6 per cent in the UK.
“As we previously noted, we are increasing our consumer marketing investment this year and both Mr Kipling and Batchelors have already benefitted from TV advertising campaigns in the first quarter.
“Many of our largest brands have built on strong category positions and grown market share, and we achieved branded growth in the quarter of nearly three per cent.
“These figures provide evidence that the company’s strategy is delivering results. Our expectations for the full year remain unchanged.”
Mr Murray added that during the second quarter, Premier Foods will launch a new range of ‘Signature’ cakes to support the growth of Mr Kipling throughout the remainder of the year.
For the 12 months ending March 30, Premier Foods saw pre-tax profits rise from £78.6 million to £88 million.
Turnover also increased to £824.3 million from £819.2 million while net debt was down by £26.5 million to £469.9 million.
