Premier Foods plc has released its trading update for the first quarter of the fiscal year 2024/25, ending on June 29, 2024. The company reported strong branded sales growth, with Group sales up 5.3% and branded sales up 7.3% compared to the previous year. This growth was driven by volume growth and market share gains in both the Grocery and Sweet Treats categories. International sales increased by 24%, and sales from new categories, such as Ambrosia Porridge pots and Angel Delight ice-cream, surged by 68%.
Alex Whitehouse, Chief Executive Officer, attributed the strong performance to the companys branded growth model and effective marketing and product innovation strategies. Premier Foods also announced the signing of a new five-year revolving credit facility, reflecting the companys positive financial outlook.
The trading update highlighted the strong performance of specific brands, such as Mr. Kipling, Nissin, and The Spice Tailor, and noted volume-led revenue growth accompanied by sharper promotional investment and market share gains. The company expects to continue this momentum in the coming quarters and maintains its full-year expectations for FY24/25.