Mr Kipling maker Premier Foods sees upbeat annual profit on strong Christmas sales (updated)

Premier Foods

21/01/2025 07:29

(Adds background and details)
       Jan 21 (Reuters) - British food producer Premier Foods
 PFD.L  forecast its annual profit at the upper end of analysts'
expectations on Tuesday, following robust sales of its branded
products during the key holiday season.
        Analysts have predicted a trading profit range of 180.1
million pounds to 186.4 million pounds ($221 million-$228.7
million) for the financial year 2024-25, according to a
company-compiled consensus.
  
    The Christmas season bode well for retailers in the UK, with
consumers splurging on discretionary items after a year of
cautious spending.
    "Earlier this year, we said that consumers are starting to
trade up and treat themselves more. This has continued over
Christmas with our premium ranges," Premier Foods CEO Alex
Whitehouse said in a statement.
    Premier, whose products include Mr Kipling mince pies and
Bisto Best meat-free gravy, logged total sales of 360.1 million
pounds for the quarter ended Dec. 28, 2024, an increase of 3.1%
year-over-year.

($1 = 0.8149 pounds)

 (Reporting by Yamini Kalia in Bengaluru; Editing by Sumana
Nandy)
 ((Yamini.Kalia@thomsonreuters.com;))