FDBusiness.com

Heavy Losses at Premier Foods

 Breaking News
  • Ferrero to Acquire US Confectionery Company Ferrero Group is acquiring Ferrara Candy Company, the third largest non-chocolate confectionery company in the US, from L Catterton, the biggest and most globally consumer-focused private equity firm in the world. The terms of the transaction were not disclosed. Ferrara is best known as the maker of iconic brands such as Trolli, a leader in [...]...
  • Shift to Sustainable Food System in Europe is Possible – But Faces Challenges Making Europe’s production, consumption and trade in food environmentally sustainable is possible, but it will require a major shift in public attitudes, policies and knowledge and seizing current opportunities for change, according to a newly published European Environment Agency (EEA) report. The EEA report ‘Food in a green light,’ analyses the challenges Europe faces in shifting [...]...
  • Pet Food Producer Achieves 30% OEE Improvement and Brand Security With OAL Connected Wagg Foods, a leading producer of high-quality pet food, has increased its OEE efficiency by 30%, secured its packaging lines from errors and ensured full compliance with retailers’ code of practice with OAL Connected, a modular suite of packaging line software. Known for its laser-focus on quality, nutrition and product development, Wagg Foods prides itself on [...]...
  • Thirsty Business – How Water Reuse Can Benefit the Food and Beverage Industry By Martin Kunz, EMEA Segment Leader, Industry for Xylem’s Applied Water Systems business Only 2.5 percent of the world’s water is fresh water, and of that, only one percent is accessible as much is trapped in glaciers and snowfields. By one estimate, global fresh water demand will exceed supply by 40 percent in 2030 if current [...]...
  • Hilton Food Group to Move into UK Fish Processing Hilton Food Group, the UK-based specialist international meat packing business, has agreed to acquire Icelandic Group UK (Seachill), a leading chilled UK fish processor, for cash consideration of £80.8 million. The acquisition will provide Hilton with entry into the processing and supply of fish in the UK. Robert Watson OBE, chief executive of Hilton Food Group. Founded [...]...

Heavy Losses at Premier Foods

Heavy Losses at Premier Foods
May 21
11:44 2015

Grappling with a UK grocery market that remains highly competitive, Premier Foods has reported a loss before tax of £135.6 million for the period from 1 January 2014 to 4 April 2015 compared to a prior year profit of £4.4 million, as its performance was impacted by a £83.9 million impairment charge. Premier Foods is changing its year end from December to April.

Pro forma total sales for the 52 weeks ended 4 April 2015 were £767.4 million compared to £803.3 million for the prior year. Trading profit was £131.0 million, in line with the company’s expectations and included approximately £8 million higher consumer marketing expenditure than the prior year. Sales have improved as the year has progressed benefiting from a combination of brand investment, new products and strong retail execution.

Gavin Darby, chief executive of Premier Foods, comments: Over the last twelve months, six of our major brands have benefited from TV advertising and we have launched a number of new products to market, with more to come this year. We have also made good progress with our major customers and we now hold significantly more category captaincy roles than we did three years ago.”

He continues: “While it is encouraging to note the return of volume growth to both our categories and the wider grocery market, we expect the near term trading environment to be challenging, and our expectations for the year are unchanged. I remain confident that our strategy of investing in brands, innovation and infrastructure is the right one for Premier Foods, and see increasing evidence that our efforts are starting to pay off.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
  • November 5, 2017FLEIFOOD 2017
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements