Premier Foods reports sales jump due to surge in home cooking
Premier Foods, the owner of Mr Kipling, said sales soared during lockdown as consumers cooked more meals due to home working and the closure of restaurants and cafes.
Group sales in the 13 weeks to 27 June increased 22.5% compared to the previous year, with branded sales up 27%.
In the UK business total sales were up 23% and branded sales were 27.9 per cent ahead of last year as demand for grocery products soared.
The company’s grocery business reported sales of £162.1m during the quarter as customers sought to expand their range of home cooked meals as lockdown restrictions continued.
All of the group’s brands reported double-digit sales growth compared to last year, with Ambrosia custard, Oxo stockcubes and Asian food brand Sharwood’s performing the best.
Nissin noodles were also popular, with sales more than doubling during the quarter, along with Premier Foods’ Cadbury cake mixes as Brits experimented with baking during lockdown.
Growth continued throughout the quarter but sales were stronger at the beginning of the period, Premier Foods said.
Sales in the second quarter have started strongly, the firm said, although the group expects growth to normalise as consumers return to restaurants, cafes and offices.
Chief executive Alex Whitehouse said: “As expected, we continued to see strong demand for our grocery brands in the first quarter, with consumers eating the vast majority of their meals at home.
“We have grown faster than our categories during this period, both in standard retail and online channels. This reflects not only the strength of our market leading brands but also the excellent performance of our colleagues across the supply chain to ensure product availability while working in close collaboration with our customers to meet this elevated demand.”