UK food giant Premier Foods has posted a 0.6% increase in full-year group sales, with branded sales flat for the full financial year, according to preliminary results issued this morning (17 May).
Trading profit for the year to 2 April 2016 stood at £131 million, in line with last year, the company said.
The maker of Mr Kipling cakes and Loyd Grossman sauces said that its Q4 group sales were up 1.4%, with branded sales up 1.0% in the quarter.
“"We are very pleased to report sales growth both in the year and the fourth quarter in what continues to be a deflationary market,” said Gavin Darby, Premier Foods CEO.
“Our strategy of investing behind our brands and bringing new innovative products to market continues to deliver very positive results, with six of our major brands growing on average +3.4% in the year. The Sweet Treats business reported sales growth in every quarter of the year while the International business also displayed excellent progress during the year with sales up +18%."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
