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Principale » Premier Foods Posts 1.5% Increase In Revenue In H1

Premier Foods Posts 1.5% Increase In Revenue In H1

15 Novembre 2017

"Overall, we continue to expect the business to make progress in the second half of the year and our expectations for the full year remain unchanged".

Premier Foods' sales rose 1.5% over the six months to £353.3m, while pre-tax losses narrowed to £1.2m from £8.7m over the same period a year earlier. "A key highlight was our strong performance in the second quarter, with volume driven revenue up +6.2% after a challenging first quarter".

The company turned over £353.5m in the six months to 30 September 2017, up from £348m for the same period a year ago.

Premier Foods, which became embroiled in a takeover tussle with USA food giant McCormick previous year, said more than 40 per cent of revenue growth during the second quarter came from its partnerships with Japanese noodle-maker Nissin and Cadbury-owner Mondelez International.

In the second quarter, revenue increased by 6.2% to GBP183.2 million compared to the equivalent quarter a year ago.

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A new range of Super Noodle pots and a deal to produce Cadbury cakes helped Mr Kipling maker Premier Foods back into the black, the company announced today.

Like all food producers operating out of the UK, Premier has experienced a rise in input costs over the past year. "We completed the signing of the new Mondelez International Global Strategic Partnership in the first half of the year and through our partnership with Nissin, Batchelors is now the fastest growing major brand in our portfolio following the launch this year of convenient pot format products such as Super Noodle Pots". The company swung to a net profit of GBP300,000 from a net loss of GBP55.6 million a year ago.

"The cost efficiency programme we launched earlier this year is on track to deliver the expected benefits", said Darby.

Shares in Premier Foods were up 4.8% at 38.25 pence on Wednesday.

Premier Foods Posts 1.5% Increase In Revenue In H1