Premier Foods has today (Tuesday, January 23) reported its Q3 group sales increased by 14.4% compared to 2022.
The British food manufacturer also reported branded sales were up 12.7% for Q3 – the 13 weeks ended December 30, 2023.
Grocery sales were up 11.9%, sweet treats sales up 21.3% and Premier Foods also experienced a total market share increase of 121 basis points.
International sales were up 11% and sales from new categories were up 108% on the previous year.
Chief executive officer (CEO) of Premier Foods, Alex Whitehouse, said the company delivered a “very strong” performance in its important third quarter.
“Our international business had another very good quarter, growing sales by 11%, delivering progress in our strategic markets,” he said.
“Sales in new categories more than doubled, with Ambrosia Porridge pots and Mr Kipling and Angel Delight Ice-cream both standout performers.
“Meanwhile, The Spice Tailor continued to grow strongly, achieving distribution gains in target markets, while FUEL10K integration into the group is progressing in line with plan.”
‘Biggest ever Christmas’
Whitehouse said “festive favourites” like Bisto, Oxo and Paxo contributed to Premier Foods’ “biggest ever Christmas”, as consumers enjoyed core ranges as well as new products.
“We sold nearly 190 million mince pies, four million more than last year, helped by the new Mr Kipling ‘Best Ever’ Signature mince pies,” he said.
“The lower promotional price points we introduced in the third quarter have positively impacted performance while also helping consumer budgets go further.
“These lower prices will be extended to additional products such as Loyd Grossman cooking sauces and Mr Kipling Bakewell slices in quarter four.
“With another strong period of trading behind us, and great plans for the coming months, we are well on track to deliver on profit expectations for this year.”
