Premier Foods stays positive
In a half year trading update today (29 June) Premier Foods said it was pleased to report that trading over May and June had continued in line with the positive trends seen in the first four months of the year.
The Bisto to Branston pickle group said sales for its grocery division continued to see good growth driven by 2008 pricing actions with growth in market share supported by new product launches and strong promotional activity.
Sales in the bread business "continued to see excellent sales and market share growth as we continued to invest behind Hovis".
Although sales of bulk flour were lower than last year due to the previously announced exit from a low margin flour contract, bulk flour profitability has been unaffected. The chilled foods division continued to see good sales growth of both Quorn and retailer branded products although profitability has been reduced by a high level of marketing investment and increased manufacturing costs in the meat free business.
