FDBusiness.com

Premier Foods Shows Resilience

 Breaking News
  • HKScan Strengthens its Meals Offering With Investment in Estonia HKScan, the leading Nordic food company, plans to invest in its Rakvere unit in Estonia. The €8 million investment will go towards modernising the unit’s frying department, including the expansion of the building and the installation of new cooking and packaging lines enabling implementation of new technologies and packaging solutions. Construction is to commence in [...]...
  • Food and Drink is at the Heart of the UK’s Largest Packaging Show Packaging Innovations, Empack and Label&Print returns to Birmingham’s NEC on 28 February-1 March 2018, and is set to be the most innovative show to date. With over 290 exhibitors already signed up, the UK’s largest annual event for the entire packaging supply chain will feature the latest industry innovations and technologies, alongside a major free-to-attend [...]...
  • AGRO Merchants Group Acquires Grocontinental AGRO Merchants Group, a global leader in cold storage and logistics solutions, announced today the acquisition of UK-based Grocontinental Limited. This transaction reinforces AGRO’s position as the leading cold storage and logistics provider in the United Kingdom and Ireland, deepens its commodity expertise, and substantially enhances its value-added service offerings for customers. David Grocott and Linda Grocott, third generation owners of [...]...
  • Trade Fair and More – The Event and Congress Programme For Anuga FoodTec 2018 Resource efficiency will be the primary focus of Anuga FoodTec 2018, the leading international supplier fair for the food and beverage industry, which will be held in Cologne, Germany from 20 to 23 March 2018. Around 1,700 suppliers from more than 50 countries will be presenting their new products for the production and packing of [...]...
  • TINE to Invest €77 Million in New Jarlsberg Plant in Ireland TINE, Norway’s largest farmer-owned dairy co-operative, is to invest €77 million in a dairy with the capacity to produce 20,000 tonnes of Jarlsberg cheese a year. The goal is to secure and strengthen Jarlsberg sales outside of Norway as export supports are phased out in 2020. This will make export of Jarlsberg from Norway unprofitable. “Jarlsberg [...]...

Premier Foods Shows Resilience

Premier Foods Shows Resilience
January 26
12:27 2015

UK food manufacturer Premier Foods has reported a 5.3% decline in turnover to £788.5 million for 2014 as branded sales fell 4.8% by to £703 million and non-branded by 9% to £85.5 million. Trading profit dropped by 6.1% to £131 million. Adjusted profit before tax declined by £4.0 million in the year to £77.1 million as the trading profit performance was partly offset by a reduced net regular interest charge of £53.9 million.

However, while 2014 was a challenging period for the company there are signs of improvement in what remains a difficult trading environment.

Gavin Darby, chief executive of Premier Foods, comments: “I am pleased with the improved branded sales trends in the fourth Quarter, and particularly our key December trading period, in what continue to be challenging market conditions. The trend in branded sales improved for the second consecutive quarter, our market share in December was the highest it’s been for the last four years and we are encouraged by positive results from areas of the business in which we invested.”

For example Premier Foods’ Mr Kipling brand delivered a particularly strong performance following its re-launch in the second half of 2014.

Gavin Darby continues: “Over the year as a whole, we achieved a great deal to set the company up for future growth. This included a major capital restructuring to diversify and secure our sources of funding, a new organisation structure to improve our focus and agility and a further reduction in cost and complexity to help fund our investment in marketing, new products and organisational capabilities. We also delivered trading profit and net debt for the year in line with current market expectations.”

Looking ahead, he believes that Premier Foods enters 2015 in a stronger position. “We will continue to invest behind our innovation, marketing and category based strategies and work closely with our customers to deliver category growth,” he says. “At the same time the business will retain a tight focus on costs, trading profit and organic de-leveraging, with net debt expected to reduce significantly in 2015. We believe this balanced approach is central to the creation of future value.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Dutch Organic Trade Fair
  • January 17, 2018Anfas Food Product
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements