Premier Foods (PFD) Q1 2026 TU earnings summary

Executive summary

• Branded sales grew 1.2% year-over-year, led by an 11.4% increase in sweet treats, while grocery brands declined 2% due to hot weather and strong prior-year comparatives.

• Group sales increased 0.3% year-over-year, despite strong comparatives.

• New categories delivered 38% sales growth, driven by Ambrosia porridge pots and Cape Herb & Spice.

• International sales rose 5% at constant currency, with strong gains in Australia and Canada.

• Market share gains were achieved in both volume and value, continuing a positive trend.

Financial highlights

• Group revenue for Q1 was £240.0m, up 0.3% year-over-year.

• Branded sales totaled £216.5m, up 1.2%; non-branded sales fell 7.8% to £23.5m.

• Grocery revenue was £174.7m, down 2.7% year-over-year; Sweet Treats revenue was £65.3m, up 9.1%.

• Non-branded grocery sales fell 9.3% and non-branded sweet treats declined 5.5%–5.6%, mainly due to contract exits.

• Overseas sales at constant currency grew 5%, with double-digit growth in Australia.

Outlook and guidance

• Trading profit expectations for the full year remain unchanged, with confidence in achieving double-digit international growth.

• Branded revenue growth is expected to accelerate as the year progresses, supported by new product launches and easing comparatives.

• Ongoing cost efficiency programs underpin profit guidance.

• Medium-term outlook remains positive, with ongoing progress across all five strategic growth pillars.