Premier Foods, the maker of the Mr. Kipling brand, reported a 5.3% rise in first-quarter sales on Thursday, maintaining its forecast for the year.
The jump was on the back of strong branded sales growth for the quarter.
Premier Foods has seen continued growth and demand for its grocery business with more shoppers its brands such as Mr. Kipling, Nissin and the Spice Tailor.
The chief executive Alex Whitehouse said, “We expect to see more volume-led branded sales growth in the coming quarters.”
Analysts are expecting, on average, trading profit for the year at £183 million on a revenue of £1.15 billion, according to a company-compiled consensus.
Premier Foods, whose products include Bisto Best meat-free gravy, said group sales for the first quarter ended 29 June rose 5.3% to £239.3 million from the previous year.
The company previously reported that it beat full-year expectations for the 2023/24 financial year, also supported by strong demand.
Premier Foods benefitted from customers’ preferences for quick meals, mince pies and gravy, as well as increased marketing spend.
High inflation also drove customers to eat at home more than going out, which benefitted Premier Foods brands.
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