Premier Foods (PFD) Q1 2025 TU earnings summary

Executive summary

• Q1 Group sales increased by 5.3% year-over-year, with branded sales up 7.3% and volume growth driving market share gains in both Grocery and Sweet Treats.

• Strategic progress included a 68% sales increase in new UK categories and a 24% rise in international sales at constant currency, with strong performance in North America, Australasia, and EMEA.

• Volume growth was healthy in both grocery and sweet treats, supported by effective promotional pricing and increased market share.

• The branded growth model, focused on consumer insights, marketing, and retail execution, underpinned consistent performance.

• Full-year FY24/25 expectations remain unchanged, with continued focus on marketing, innovation, and international expansion.

Financial highlights

• Total group sales reached £239.3m, up 5.3% year-over-year; branded sales were £213.8m (+7.3%), non-branded £25.5m (–8.8%).

• Grocery revenue grew 7.1%, with branded grocery up 8.6% and non-branded down 5.1%.

• Sweet Treats sales were £59.9m, up 0.4% year-over-year; branded sales rose 3.5%, non-branded fell 16.0%.

• Non-branded grocery and sweet treats sales declined due to contract exits and consumer switching to branded products.

Outlook and guidance

• Full-year guidance remains unchanged, with a focus on volume-led branded sales growth, new product launches, and international expansion.

• Anticipated tapering of volume growth in the second half as promotional pricing effects moderate.