Food manufacturer Premier Foods commits to lowering prices on more products
British food manufacturer, Premier Foods has committed to extending lower prices to more of their products.
The price promise comes after CEO Alex Whitehouse said the company had enjoyed an 11.9% increase in their grocery sales, while their Sweet Treats sales were up 21.3%.
He said that lowering their prices in the lead-up to December saw their Q3 Group sales increase by 14.4%.
Their total market share increased by 121 basis points versus the prior year, while Q3 Branded sales were up 12.7%.
“We delivered a very strong performance in our important third quarter with double-digit sales growth across the Group, underlined by particularly strong market share gains of over 120 basis points,” said Mr Whitehouse.
“Sales in new categories more than doubled, with Ambrosia Porridge pots and Mr Kipling and Angel Delight Ice-cream both stand-out performers.”
Festive favourites, including Bisto, Oxo and Paxo contributed to their biggest ever Christmas, with consumers enjoying their core ranges, as well as new products including Bisto Best meat-free gravy and Paxo Chicken & Bacon Stuffing.
Mr Whitehouse added they sold almost 190 million mince pies, four million more than last year.
“The lower promotional price points we introduced in the third quarter have positively impacted performance while also helping consumer budgets go further,” he said.
“These lower prices will be extended to additional products, such as Loyd Grossman cooking sauces and Mr Kipling Bakewell slices in quarter four.
“With another strong period of trading behind us, and great plans for the coming months, we are well on track to deliver on profit expectations for this year.”