Jan 20, 2022
Mr Kipling’s best ever Christmas brings rising profits for Premier Foods
Premier Foods raised its profit forecasts after its range of Mr Kipling cakes recorded its strongest ever Christmas trading and shoppers snapped up premium products. The group said sales from reduced sugar Angel Slices performed well, while customers traded up to its premium Bisto Best gravy over Christmas. Premier expected Mr Kipling cakes to hit US stores for the first time in the next quarter. Shares in the St Albans-based food group rose by more than 6 per cent in early trading after the company announced that sales were up 7 per cent on 2019 levels and raised its adjusted profit before tax forecasts from £119.3m to at least £125m. Group sales were down by 1.8 per cent compared with last year when shoppers could not eat out during lockdown. Premier Food's branded sweet treats business continued to grow, up 6.3 per cent compared with last year, driven by Mr Kipling and Cadbury cake bars.
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