Mr Kipling maker Premier Foods' Q1 sales jump 5.3% (updated)

Premier Foods

18/07/2024 07:39

(Adds CEO comment, details on Q1 performance)
       July 18 (Reuters) - Britain's Premier Foods  PFD.L  on Thursday reported
a rise in first-quarter sales on the back of strong branded sales growth, and
maintained its forecast for the year.
    The company has seen continued growth and demand for its grocery business
with more shoppers buying its brands such as Mr Kipling, Nissin and The Spice
Tailor.
    "We expect to see more volume-led branded sales growth in the coming
quarters," said CEO Alex Whitehouse. 
    Analysts, on average, are expecting trading profit for the year at 183
million pounds ($238 million) on a revenue of 1.15 billion pounds, according to
a company-compiled consensus.
    Premier, whose products also include Bisto Best meat-free gravy, said group
sales for the first quarter ended June 29 rose 5.3% to 239.3 million pounds from
the previous year.

($1 = 0.7688 pounds)

 (Reporting by Shanima A in Bengaluru; Editing by Varun H K)
 ((shanima.a@thomsonreuters.com; (Direct: +91 72 5956 7774);))