Premier Foods, the maker of brands such as Mr Kipling cakes and Bisto gravy, has reported flat branded sales for the six months to 3 October 2015, according to interim results issued this morning.
Branded sales were +0.1% up in the half, and 1.6% up in Q2, which marks the business' first quarterly increase for two years.
Operating profit for the period stood at £23.3 million, up £36.1 million on the same half last year.
“We are pleased to see Group branded sales growth in both the first half and second quarter of this financial year, as well as Trading profit progression," said Gavin Darby, Premier Foods chief executive (pictured).
"This reflects the clear benefits from our continued commitment to brand investment and innovation. It is also encouraging to see strong sales growth in our International business following the investment we’ve made in additional resources.”
Darby added that the company expects to see positive growth in Q3, "with Sweet Treats performing more strongly than Grocery."
© 2015 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.
