Premier Foods H1 sales up 7%
Premier Foods said on Tuesday that its group sales rose seven per cent in the half year to 28 June.
First Great Western to invest £29 mln in service improvementsThe company, which owns Hovis and Branston, said that it had increased prices in order to recover the cost of rising input prices.
Trading profit at the group was reported as being in line with the first half of 2007 and the group said that the rejuvenation of its Hovis brand was underway.
The company said that it was on course to deliver its profit expectations for the full year.
Robert Schofield, Chief Executive of Premier Foods, said, said, "I am pleased to report that Premier Foods made good strategic and operational progress during the first half of the year, despite the difficult economic and trading environment that all consumer businesses are facing.
"Against this background we have recovered the commodity cost inflation we have seen to date and we expect pro forma Trading profit for the first half of the year to be in line with the same period last year."
He continued, "Premier's broad portfolio of staple food products and leading brands, supplied through a wide range of customers, provides us with a resilient base as consumers' buying patterns evolve. We have good forward sight of inflationary pressures and have plans in place to mitigate them as they occur.
"Our expectations for the year remain unchanged with progress weighted to the second half as the benefits of synergies from the manufacturing rationalisation programme, price increases achieved to date and the rejuvenation of Hovis flow through."
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