Premier Foods sees FY trading profit at upper end of expectations

Mr Kipling and OXO owner Premier Foods said on Thursday that full-year trading profit was set to be at the top end of market expectations as it posted a jump in first-quarter sales.

Premier Foods
30 April 2024 17:25:16

Source: Sharecast

Group sales in the 13 weeks to 1 July rose 21.1% on the prior year, with branded sales up 17.5%.

Chief executive Alex Whitehouse said: "Our sales performance was broad based, supported by ongoing brand investment, new product development such as Mr Kipling Brownie Bites and strong instore activation.

"Our portfolio, which helps consumers make good value and nutritious, tasty meals at home, continues to demonstrate a high level of relevance in the current, challenging economic climate."

Following the "strong" first quarter, Premier Foods - which also owns Batchelors, Ambrosia and Bisto, among others - now expects FY23/24 trading profit to be at the top end of market expectations of between £162m and £165.4m.

Whitehouse added: "We believe the recent period of significant input cost inflation is now past its peak and have no further price increases planned for the rest of 2023."

Transferring your account

Transfer your existing ISAs and Share Dealing Accounts and you could save money. In order to transfer, log in to your existing account and complete the online application form. We’ll do the rest for you. It’s free to transfer (we will not charge you). Please check your current provider to see if they have any charges for transferring.

Transfer to us

FTSE 250 ( MCX )

Isin: N/A

Exchange: London Stock Exchange

Sell:

0.00

Buy:

0.00

Change: -119.40 ( -0.59 %)

Date:

30/04/2024 - 17:04

Prices delayed by at least 15 minutes

Compare our accounts

Whether you're looking for a Share Dealing Account, Stocks and Shares ISA or a Self-Invested Personal Pension (SIPP), we've got an account to suit your needs.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.