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Premier Foods has announced a surge in sales for the
last six months, with the UK?s largest food producer
reaping the benefits from a run of major acquisitions.
Premier, the company behind brands including Mr Kipling
and Batchelors, saw H1 sales climb by 43.5% to ?1.29bn,
up from last year?s mark of ?899.1m.
Operating profits were up 10% from ?101.5m to ?121.5m.
Hovis was responsible for sales of ?462.7m ? almost
double the ?235.5m the brand brought in over the
equivalent period last year.
Premier chief executive Robert Schofield said the
company?s ?vision remains on track? after achieved
savings of ?26m over the period relating to its
acquisitions of RHM and Campbell?s in 2006.
?The integration of RHM and Campbell's is now ahead of
plan and we have closed six out of the nine factories
scheduled for closure,? Schofield said. ?We have
achieved the key price increases that were needed to
recover input cost inflation seen to date and have
continued to invest behind our unrivalled portfolio of
brands and staple food products to ensure they prosper
through the current difficult economic conditions.?
He added: ?'Now we have commenced the rejuvenation of
Hovis, our largest brand, with significant quality
improvements and an exciting marketing campaign that
starts next month, which we believe will return it to
growth.
?Our expectations for the year as a whole remain
unchanged, with progress weighted towards the second
half as the benefit of all these fundamental actions
begin to flow through. The Group will reap the fuller
rewards from this strong platform in 2009 and beyond as
our focus shifts towards further brand building and
innovation.?
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