REG - Premier Foods plc Premier Foods Fin - Q3 Trading Update

Premier FoodsAnnouncement

Today 07:00

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RNS Number : 6810P  Premier Foods plc  21 January 2026

21 January 2026

Premier Foods plc (the "Group" or the "Company")

 

 Strong Christmas trading, branded revenue +5.2%(3), Full year profit now at
 upper end of expectations(6)

Premier Foods today provides its Quarter 3 trading update for the thirteen
weeks ended 27 December 2025

 ·   Q3 Branded revenue up 5.2%(3), Total revenue up 4.1%(3)
 ·   Grocery Branded revenue up 5.8%(3), Sweet Treats Branded revenue up
 3.1%
 ·   Market share(2) gains in both Grocery and Sweet Treats
 ·   Revenue from New Categories increased 29%
 ·   International revenue up 10%; strong quarter for Australia in all
 categories
 ·   Acquired brands The Spice Tailor, FUEL10K and Merchant Gourmet(5) all
 delivered double-digit revenue growth
 ·   Now expected to deliver full year Trading profit at the upper end of
 market expectations(6)

 

Note: Headline results presented for the quarter exclude the effect of the
Charnwood site closure in the prior year

 

 Alex Whitehouse, Chief Executive Officer

"We had a really good Christmas with 5.2% branded revenue growth, accelerating
our trend from the previous quarter. These results demonstrated strong
delivery against all pillars of our strategy, with consumers continuing to
choose our brands for their quality and value. Both our Grocery and Sweet
Treats businesses made strong progress in the period, and we returned to
double-digit revenue growth overseas with particularly good performances in
Australia and the US."

 

"Our product innovation programme is particularly strong this year and
consumers are embracing our new ranges including OXO Bone Broth, Paxo Stuffing
Wreath, Angel Delight Bubble Jelly and Mr Kipling Cake Bites tubs. Premium
ranges such as Ambrosia Deluxe, The Spice Tailor and Mr Kipling Signature
Mince Pies again outperformed the market, as consumers traded up over the
festive period. Sales from New Categories delivered another strong quarter, up
29%, led by the growing success of FUEL10K yogurt and granola. We grew all of
our acquired brands double digits, including our most recent acquisition
Merchant Gourmet, as we further leverage both our commercial expertise to
expand retailer distribution and marketing capabilities to drive product
innovation and increase brand investment."

 

"Our portfolio of brands offer consumers great options to cook and eat
affordable, delicious meals at home, and together with our track record of
performance through all economic cycles, firmly underpins confidence in our
medium-term prospects. Following this strong period of trading and strategic
progress, we now expect to deliver Trading profit at the upper end of
expectations for this year."

 

 Trading update

 

Grocery

Grocery Branded revenue increased by 5.8%(3) in the quarter, an acceleration
on quarter 2, with total revenue for the Grocery business up 4.1%(3). Grocery
also increased market share in the quarter, as it continues its long-term
trend of growing ahead of its categories. This momentum reflected the launch
of a range of exciting new products in quarter 3, which were key contributors
to growth. OXO introduced ready to use stock and Bone Broth product ranges,
Paxo launched Stuffing Wreaths for Christmas accompanied by its first
advertising campaign for over 40 years and Angel Delight was inspired by the
bubble tea consumer trend bringing to market Bubble Jelly. The Ambrosia Deluxe
range significantly outperformed the category in the quarter, as consumers
continue to choose premium offerings.

 

Sales from new categories increased by 29% in the period, helped by the
emerging success of FUEL10K Yogurt & Granola pots and additional
distribution for Cape Herb & Spice. The Group's acquired brands, The Spice
Tailor and FUEL10K, yet again grew sales in double-digit terms, as The Spice
Tailor continues to expand its range and FUEL10K launched ready to eat
porridge pots and delivered further strong progress from its core Granola
range. Merchant Gourmet enjoyed a strong first full quarter under the Group's
ownership and delivered revenue growth of 18%(5) in the period, while Nissin
increased sales double-digits reflecting growth in Demae Ramen and new Soba
Protein pots. Non-branded sales were (7.5%) lower due to the planned exit of
some lower margin contracts on Stuffing and Custard.

 

Sweet Treats

Sweet Treats had another good quarter, delivering branded revenue growth of
3.1%, after lapping strong comparatives from last year and also gained market
share. As in the first half of this year, this growth was fuelled by its
extensive product innovation programme, including ranges such as Mr Kipling
Cake Bites, Breakfast Bakes and Cadbury Caramel Mini Rolls. The premium range
of Mr Kipling Signature mince pies grew 19% in the quarter through increased
distribution levels, as consumers traded up and treated themselves over the
festive period. Non-branded Sweet Treats returned to growth with revenue up
2.0% in the period due to contract wins on Tarts and seasonal ranges.

 

International

The International business resumed its double-digit revenue growth trend in
the quarter, led by increased sales of cake in Australasia, which was also
reflected in continued strong in-market performance and further share gains.
Additionally, The Spice Tailor and Sharwood's contributed to further progress
in the quarter, following the launch of The Spice Tailor big packs and
increased sales of the core Sharwood's range. The USA also delivered strong
revenue growth reflecting a full quarter of new distribution on Mr Kipling
Apple Pies and increased distribution on Mr Kipling slices. Looking ahead, the
Group has secured listings of FUEL10K Granola in Europe for the first time,
effective from Q4.

 

 Outlook

 

Following a strong trading performance in the Group's key quarter, together
with further progress against all pillars of its strategy, Trading profit for
the FY25/26 financial year is now expected to be at the upper end of market
expectations.

 

 ~ Ends ~

 

As one of the UK's largest food businesses, we're passionate about food and
believe each and every day we have the opportunity to enrich life for
everyone. Premier Foods employs over 4,000 people operating from 13 sites
across the country, supplying a range of retail,
wholesale, foodservice and other customers with our iconic brands which
feature in millions of homes every day.

 

Through some of the nation's best-loved brands, including Ambrosia,
Batchelors, Bisto, Loyd Grossman, Mr. Kipling, Oxo and Sharwood's, we're
creating great tasting products that contribute to healthy and balanced diets,
while committing to nurturing our people and our local communities, and going
further in the pursuit of a healthier planet, in line with our Purpose of
'Enriching Life Through Food'.

 

 Contacts:

 Institutional investors and analysts:
 Duncan Leggett, Chief Financial Officer
 Richard Godden, Director of Investor Relations
 Investor.relations@premier (mailto:Investor.relations@premier) foods.co.uk

 Media enquiries:
 Lisa Kavanagh, Director of Corporate Affairs

 Headland
 Ed Young                                                                    +44 (0) 7884 666830
 Jack Gault                                                                  +44 (0) 7799 089357

 

 Conference call

 

A conference call for investors and analysts hosted by Alex Whitehouse, CEO
and Duncan Leggett, CFO, will take place today, 21 January 2026, at 8.30am,
details of which are outlined below.  A replay of the conference call will be
available on the Company's website later in the day:
www.premierfoods.co.uk/investors/results-centre
(http://www.premierfoods.co.uk/investors/results-centre)

 

 Telephone number:  0808 189 0158 (UK toll free)
                    +44 20 3936 2999 (standard international access)
                    Access code: 140331

 

 - Ends -

 

 

This announcement may contain "forward-looking statements" that are based on
estimates and assumptions and are subject to risks and uncertainties.
Forward-looking statements are all statements other than statements of
historical fact or statements in the present tense, and can be identified by
words such as "targets", "aims", "aspires", "assumes", "believes",
"estimates", "anticipates", "expects", "intends", "hopes", "may", "would",
"should", "could", "will", "plans", "predicts" and "potential", as well as the
negatives of these terms and other words of similar meaning. Any
forward-looking statements in this announcement are made based upon Premier
Foods' estimates, expectations and beliefs concerning future events affecting
the Group and subject to a number of known and unknown risks and
uncertainties. Such forward-looking statements are based on numerous
assumptions regarding the Premier Foods Group's present and future business
strategies and the environment in which it will operate, which may prove not
to be accurate. Premier Foods cautions that these forward-looking statements
are not guarantees and that actual results could differ materially from those
expressed or implied in these forward-looking statements. Undue reliance
should, therefore, not be placed on such forward-looking statements. Any
forward-looking statements contained in this announcement apply only as at the
date of this announcement and are not intended to give any assurance as to
future results. Premier Foods will update this announcement as required by
applicable law, including the Prospectus Rules, the UK Listing Rules, the
Disclosure Guidance and Transparency Rules, the rules of the London Stock
Exchange and any other applicable law or regulations, but otherwise expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statement, whether as a result of new information, future
developments or otherwise.

 

Notes to editors:

 

 Q3 Sales (£m)   FY25/26      FY24/25    Change vs 1 year ago    Change at constant currency
 Grocery
 Branded         246.2        232.4      5.9%                    5.8%
 Non-branded     20.6         22.3       (7.5%)                  (7.5%)
 Total           266.8        254.7      4.8%                    4.6%

 Sweet Treats
 Branded         68.6         66.5       3.1%                    3.1%
 Non-branded     39.7         38.9       2.0%                    2.0%
 Total           108.3        105.4      2.7%                    2.7%

 Group
 Branded         314.8        298.9      5.3%                    5.2%
 Non-branded     60.3         61.2       (1.5%)                  (1.5%)
 Total           375.1        360.1      4.2%                    4.1%

 

 Q3 YTD Sales (£m)   FY25/26      FY24/25    Change vs 1 year ago    Change at constant currency
 Grocery
 Branded             583.3        571.5      2.1%                    2.1%
 Non-branded         52.5         57.3       (8.4%)                  (8.4%)
 Total               635.8        628.8      1.1%                    1.1%

 Sweet Treats
 Branded             184.1        172.1      6.9%                    6.9%
 Non-branded         57.2         57.9       (1.1%)                  (1.1%)
 Total               241.3        230.0      4.9%                    4.9%

 Group
 Branded             767.4        743.6      3.2%                    3.2%
 Non-branded         109.7        115.2      (4.7%)                  (4.7%)
 Total               877.1        858.8      2.1%                    2.1%

 

 1.          Sales data is for the thirteen weeks to 27 December 2025 and the comparative
             period, the thirteen weeks ended 28 December 2024. Headline results in the
             statement are stated excluding the Charnwood site closure.
 2.          Market share data sourced from IRI, 13 weeks ended 27 December 2025
 3.          Sales stated on a constant currency basis
 4.          All financial data detailed above is unaudited and has not been subject to
             review by the Company's auditors
 5.          Stated on a pro forma basis
 6.          Range of FY25/26 Trading profit, collated by the Company from eight analyst
             forecasts is £193.0m - £198.2m, with a mean of £195.3m

 

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