Premier Foods publishes latest business performance statement

London / UK. (pf) British Premier Foods PLC provided an update on recent trading, further to its third quarter trading update of 19 January 2023.

The Group has continued to trade strongly in recent weeks, bringing the momentum it delivered in quarter 3 into the final quarter of the year. Accordingly, it now expects revenue growth in Q4 to be at least 10 percent ahead of the prior year. The Grocery business continues to lead the way, with broad based growth and further market share gains, while Sweet Treats has demonstrated an improving trend. International will deliver another quarter of strong sales growth.

Consequently, Trading profit and adjusted profit before tax for this year are forecast to be ahead of the Board’s initial expectations and are now expected to be around GBP 155m and GBP 135m respectively, which equates to growth of approximately 10 percent compared to prior year. Net debt is anticipated to be broadly in line with last year and the Board’s expectations. The Group will release its Preliminary results for the 52 weeks ended 01 April 2023 on 18 May 2023.