Mr Kipling maker Premier Foods posts 4.6% rise in half-year revenue (updated)

Premier Foods

14/11/2024 07:34

(Adds CEO quote from statement in paragraph 3, details and
background throughout)
       Nov 14 (Reuters) - Britain's Premier Foods  PFD.L 
reported a 4.6% rise in half-year revenue on Thursday, driven by
continued growth in its grocery business and brands such as Mr
Kipling, Nissin and The Spice Tailor.
    Headline branded revenue rose 6.8% in the period, as cooling
inflation helped boost consumer spending.
    "As inflation has begun to ease and shoppers are starting to
feel more confident, we've seen consumers treat themselves more,
helping sales of both Mr Kipling Signature Bites and Ambrosia
Deluxe more than double in the first half of the year," CEO Alex
Whitehouse said in a statement.
        Premier, which makes products ranging from plain flour
to cooking sauces and quick meals, posted headline revenue of
498.7 million pounds ($632.50 million) for the 26 weeks ended
Sept. 30, up from 476.7 million pounds a year earlier.
  
        The company also said its branded growth model and
investment in promotional pricing have delivered a strong
branded volume and revenue performance in the first half of the
year.
  

($1 = 0.7885 pounds)

 (Reporting by Yamini Kalia in Bengaluru; Editing by Eileen
Soreng)
 ((Yamini.Kalia@thomsonreuters.com;))