LONDON (dpa-AFX) - British food producer, Premier Foods Plc (PFD.L), on Thursday said its Group sales for the first quarter grew more than 21 percent and Branded sales were up 17.5 percent.
The Group attributed its strong sales performance to its ongoing brand investment, new product development, such as Mr. Kipling Brownie Bites, and strong instore activation.
In the quarter, Grocery sales grew 26.7 percent, and Sweet Treats sales grew by 7.6 percent. Mr. Kipling revenue grew by 3.6 percent, benefitting from new product launches. Also, Overseas sales were 14 percent higher in Q1.
Looking ahead, the Group said it expects trading profit for the fiscal year to be at top end of market expectations.
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