Jan 17, 2020

Premier Foods posts sales sugar rush as turnround gains traction

Premier Foods, the owner of Mr Kipling cakes, said the nation's sweet tooth and love of mince pies had helped it outperform its rivals and boost sales in the third quarter as a turnround of its businesses gains traction. The group's biggest brand, Mr Kipling, with sales up 10 per cent in the 13 weeks to December 28, was "Again instrumental to its continuing momentum", it said on Friday, as it reported its 10th consecutive quarter of revenue growth in a trading update. The UK-listed company, which said it is on track to meet its full-year profit expectations, last year sold more than 200m mince pies, a British Christmas treat, over the period, 7 per cent more than in 2018. Overall, seasonally focused brands increased their sales 5 per cent in the quarter. Group sales rose 2.6 per cent with the UK in particular up 3.6 per cent.

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