London · Delayed Price · Currency is GBP · Price in GBX Premier Foods Earnings Call Transcripts
Fiscal Year 2026
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Q3 delivered strong branded revenue and market share growth, with premiumization and innovation driving both UK and international performance. Profit guidance was raised to the upper end of expectations, supported by robust cost management, increased CAPEX, and successful integration of recent acquisitions.
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Branded revenue grew 1.9% in H1, with Sweet Treats up 9.4% and grocery rebounding in Q2. Trading profit rose 7% (adjusted for EPR), and the Merchant Gourmet acquisition strengthens the portfolio. Full-year profit guidance is reaffirmed, with strong innovation and capital investment supporting future growth.
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Branded sales grew 1.2% year-over-year, with sweet treats up 11.4% and group sales up 0.3%. Grocery brands declined 2% due to hot weather, but international and new category growth remained strong. Trading profit expectations for the year are unchanged.
Fiscal Year 2025
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Full-year sales rose 3.5% to £1.148bn, with branded sales surpassing £1bn and trading profit up 6%. Net debt/EBITDA fell to 0.7x, dividend increased 62%, and all five growth pillars delivered strong results, including 23% overseas growth and 46% in new categories.
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Q3 delivered strong volume-led branded growth, with group sales up 3.1% and international sales up 29%. Premiumization, innovation, and new categories drove performance, leading to raised profit guidance for the year.
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Revenue grew 4.6% to nearly £500m, with double-digit volume gains in UK brands and strong international and new category growth. Trading profit, EPS, and PBT all rose, net debt fell, and the group remains on track for full-year expectations.
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Q1 delivered 5.3% sales growth and 7.3% branded sales growth, driven by strong volume gains, successful promotional pricing, and market share increases. Strategic expansion in new categories and overseas markets continued, with full-year guidance unchanged.