UK’s Premier Foods Announces Healthy Half-Year Earnings

Premier Foods – the largest food processor in the UK – has announced positive half-year results, with turnover up 3.5% to £1,288.2m and trading profit up 5.6% to £123.6m following the group’s refinancing.

The group says sales in its grocery and bread lines have helped it profit up until 27 June this year, as well as the relaunch of well-known bread brand Hovis, which has seen sales rise by 17%.

Its Branston pickles line also saw increases of 41% in sales, with the Loyd Grossman line up 35%, Batchelors 14% and Hartley’s 12%.

Premier Foods chief executive Robert Schofield said the integration of RHM and Campbell’s lead to refinancing that has also helped the group through the tough trading environment, to come out with an increased market share.

“We expect the consumer environment to remain tough but we will continue to invest in and support our brands to drive market share growth,” Grossman said.

“Cost inflation remains an issue which we will continue to offset through pricing and efficiency savings.”