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Premier Food on target as Mr Kipling sees exceedingly good mince pie sales

Published: 08:11 17 Jan 2020 GMT

Premier foods -
Bisto and Ambrosia increased market share

Sales of more 200mln Mr Kipling mince pies over Christmas boosted sales at Premier Foods (LON:PFD) in its latest quarter.

A new range of mini pies sparked the sales surge which boosted volumes by 7% and lifted Mr Kipling revenues by 10%.

On the grocery side sales of Paxo stuffing also went well in the run-up to the festive season, while Bisto and Ambrosia also grew sales.

Overall, sales rose by 2.6% in the three months to September and are 2.5% ahead in the year to date.

The third quarter is Premier’s most important and it left profit expectations for the full year unchanged while repeating that it is on track to hit its debt target for the year.  

Alex Whitehouse, Premier Foods' chief executive, said: "Our UK business has now delivered 10 consecutive quarters of revenue growth and has consistently outperformed the market.

"In Q3 we doubled our UK marketing investment with more to come in Q4, along with a number of new product launches including Cadbury Crème Egg choc cakes and Mr.Kipling mini pies and tarts.“

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