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Premier Foods has raised its profit guidance after a strong Christmas quarter for its branded products.
The group’s sales were up 3.1% to £298.9m due to volume growth for its brands such as Mr Kipling and Loyd Grossman which saw revenue rise 4.6% in its Christmas quarter.
“Earlier this year, we said that consumers are starting to trade up and treat themselves more,” said Premier CEO Alex Whitehouse. “This has continued over Christmas.”
The full story is available here at thegrocer.co.uk.
Morning update
Cranswick has also benefited from more shoppers going premium over Christmas as the meat processor notched up a record festive period.
The meat processor said revenue growth in the third quarter was once again “strong” with premium products like gourmet gammon and pigs-in-blankets performing “extremely well”.
The full story is available here at thegrocer.co.uk.
Pub chains Marston’s has reported a “solid” festive quarter that included record sales on Christmas day.
In a positive sign for the hospitality sector, total retail sales were up 3% in the 16 weeks to January 18, driven by growth in both food and drink.
“We remain well placed to deliver FY25 market expectations and the guidance set out at our October 2024 Capital Markets Day,” said Justin Platt, Marston’s CEO.
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