LONDON (dpa-AFX) - Premier Foods plc (PFD.L) Thursday reported lower sales for the first quarter reflecting a subdued grocery retail environment, a later Easter and the impact of milder weather.
In its interim statement, the company reported total first-quarter sales of 186.3 million pounds, which was down 6.2 percent from 198.7 million pounds during the year-ago period.
The total branded sales for the quarter declined 5.4 percent to 166.5 million pounds from 176 million pounds last year, with the sales in Power Brands down 3.5 percent to 123.7 million pounds from last year's 128.2 million pounds.
In addition, the company backed its full year 2014 outlook. The group has planned a strong programme of new product launches and consumer marketing for the second half of the year and will continue to focus on enhancing customer partnerships with retailers, thereby reducing costs, complexity and for improving efficiency.
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