Quarterly sales rise at Premier Foods

published 25 April 2012

The UK's largest food manufacturer Premier Foods said first quarter results were in line with company expectations despite the ongoing challenging consumer environment.

"It continues to be very challenging and our focus for 2012 remains unchanged; to stabilise the business and invest in our recovery," it said in a company statement.

The group, behind household favourites such as Hovis, Ambrosia and Mr Kipling, said group sales rose 1.3% to £427m for the three months ending 31 March 2012 and Power Brand sales increased 3.7%.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Full year expectations remain unchanged and cost reduction & restructuring programme on track.

Chief executive officer Michael Clarke said, "We are driving sustainable sales and improving market shares by focusing investment behind our eight Power Brands, improving customer collaboration and reducing costs."

Clarke said the group has a solid programme in the second quarter to support Power Brands sales including further advertising, targeted promotions and new product innovation such as the Hovis Farmer's Loaf, Batchelors Deli-Box, Ambrosia rice snack pots and a limited edition range of Mr.Kipling cakes celebrating the Queen's Diamond Jubilee.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.