‘Exceedingly good’ results for Mr Kipling group

The food group behind Mr Kipling has reported an “encouraging start to the year” in its Q1 trading update with a double-digit sales increase on its largest brand.

Premier Foods has seen its overall group sales increase by 1.1 per cent, with sales for cake and pie brand Mr Kipling up by 10 per cent.

The group’s grocery division, which includes brands such as Bisto, Paxo and Sharwood, reported sales of £123.1m in the quarter, an increase of 1.3 per cent on the previous year.

International sales for the firm were down however, something the group attributes to “the unwind of Brexit related stock in Irish customers’ supply chains”.

Commenting on the results, Premier Foods acting chief executive officer Alastair Murray said: “I am pleased to report an encouraging start to the year with Group sales up +1.1 per cent and ahead +2.6 per cent in the UK.

“As we previously noted, we are increasing our consumer marketing investment this year and both Mr Kipling and Batchelors have already benefitted from TV advertising campaigns in the first quarter.

“Many of our largest brands have built on strong category positions and grown market share, and we achieved branded growth in the quarter of nearly 3 per cent.

“These figures provide evidence that the Company’s strategy is delivering results.”