Big brands drive growth for Premier
PREMIER Foods, the company behind brands such as Bisto and Hovis, has reported a strong start to the year.
In a first quarter trading update the business said revenues from its biggest brands – or “power brands” – were up 3.3% to £222m. It’s non-branded products slipped 5%, pulling overall sales growth down to 1%, or £327m.
Premier has a 200-strong finance and human resources base in Spring Gardens, Manchester, and a number of factories and bakeries around the region.
Over the past year the group has been focusing on its power brands which are: Ambrosia, Batchelors, Bisto, Hovis, Loyd Grossman, Mr Kipling, Oxo and Sharwood’s.
Chief executive Gavin Darby said: “I am pleased to report continued momentum in our power brands in the first Quarter. This represents the fifth successive quarter of sales growth for our Grocery Power Brands, demonstrating that our strategies of investing in marketing and improving customer collaboration are working. Five of our power brands have been on TV in the past weeks, with more to come in the second quarter.”
He added: “Despite a continued challenging consumer environment, I believe we have the right strategies in place to make further progress this year, with expectations unchanged.”