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Premier Foods group sales down 4.2%
By Shaun Weston
28 October 2010
Categories
Business
Financial
Food
Highlights
Branded sales volumes up 4.6%, value down 0.5%.
Increasingly challenging environment with grocery market volumes down 3.2%, value down 2.3%.
Continued branded volume market share growth, up 0.7 ppts to 23.0%, value share down 0.3 ppts to 24.0%.
Drive brand sales volumes up 7.9%, value up 3.9%.
Total Group sales down 4.2% owing to reduction in non-branded sales.
Extended licensing agreement signed with
Kraft
for
Cadbury
Cakes.
Repricing completed recovering sharp rise in wheat raw material costs.
Successfully restructured swap portfolio substantially reducing risk.
Efficiency programmes continue to make progress.
On-track to deliver £100m of recurring cash flow for the full year.
>Group continues to aim to make progress in 2010 but the slowdown in Q3 means this is likely to be more modest and is, as always, dependent on Christmas trading.
Read the full Premier Foods financial statement here.
Source: Premier Foods
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