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Trading statements

PFD says Q1 sales up 1.9%, FY view unchanged

21 July 2016 07:36

Premier Foods said its expectations for the FY remain unchanged, and that Q1 group sales rose 1.9%, while branded sales improved 0.8%. This was the fourth consecutive quarter of sales growth.

"We are very pleased by the further improvement in our sales performance, which demonstrates four consecutive quarters of growth and continued momentum in the business," said CEO Gavin Darby.

"Our category strategy of investing behind our brands continues to deliver results, despite the wider deflationary grocery market in the UK.

"While the economic environment is more uncertain following the EU referendum outcome, our immediate financial exposure is expected to be limited.

"Given our strong brands and UK manufacturing cost base, we believe we remain well placed to make progress and our expectations for the full year remain unchanged."

The Group delivered sales growth of 1.9% in the first thirteen weeks of the 2016/17 financial year, with Branded sales up 0.8% and Non-branded sales ahead 9.8%. On a divisional basis, sales grew by 1.9% in Grocery and sales in Sweet Treats increased by 2.0%.

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