Reuters logo
BRIEF-Premier Foods sees FY trading profit lower than previous expectations
January 18, 2017 / 7:41 AM / 8 months ago

BRIEF-Premier Foods sees FY trading profit lower than previous expectations

Jan 18 (Reuters) - Premier Foods Plc :

* Q3 sales fell 1 percent to 251.4 million stg

* Quarter 3 trading update

* Weak Q3 group sales down (1.0 pct), despite strong December up +4.5 pct

* Trading profit expectations for year approximately 10 pct lower than previously anticipated

* Majority of major brands grew volumes and market share in Q3

* New cost savings and efficiency programme to deliver 10 mln stg from FY17/18

* First new products from Nissin partnership to launch in Q4

* Now expect category performance to remain challenging during Q4 and as a result sales will be below previous expectations - CEO

* Recovery of significant input cost inflation in certain areas is taking longer than originally foreseen - CEO

* We now expect trading profit for FY16/17 to be approximately 10% below previous expectations. - CEO

* Group sales in Q3 were 251.4 mln stg, (1.0 pct) lower than same period last year

* Branded sales were (3.8 pct) lower, while non-branded sales performed strongly, ahead +11.6 pct. Group volumes increased +3.4 pct in quarter.

* Total sales in grocery business were (1.9 pct) lower

* Total international sales grew by nearly 15 pct in quarter

* Sales in sweet treats increased by 1.0 pct in quarter. Branded sales were (3.4 pct) lower while non-branded sales increased by 10.3 pct Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below