Premier Foods who owns beloved household brands such as Oxo, Mr Kipling, Bisto and many more has reported a strong start with a 6% rise in group sales and branded sales up 4.2% from last year, with shares in the company also rising by 0.5% following the news. (1)
The CEO Alex Whitehouse confirmed, they have made good progress in recovering manufacturing costs increased by inflation, from passing on costs to retailers through price increases.
Premier Food has also reported positive momentum overseas, with international sales up 12% year on year. The brand is seeing “a very strong” performance in Australia where Mr Kipling recorded its highest-ever market share. CEO Alex Whitehouse saying, “With this positive trading momentum behind us, we remain firmly on track to deliver our expectations for the year”. (2)
Premier left its forecasts for the year unchanged and added it expected to continue to realise further shareholder value through the ongoing delivery of its growth strategy.
This definitely feels like an 'Ahh Bisto' Moment for Premier.