Premier Foods see a slump in sales

The UK’s largest food producer has today revealed that its revenues dropped in the third quarter as higher sales of its branded products were offset by declining volumes among its non-branded products.

The heavily-indebted Premier Foods, which makes some of the UK’s leading grocery brands, added that the trading environment had become increasingly tough.

“We still aim to make progress in the full year but the slowdown in Q3 means this is likely to be more modest and is, as always, dependent on Christmas trading,” Chief Executive Robert Schofield said in a statement.

Total group sales fell 4.2 per cent in the period to 30 September with sales of its branded foods down 0.5 per cent, while its unbranded foods dropped 10.4 per cent. However, third quarter sales of its “drive brands”, which include Hovis bread and Mr Kiplings cakes were up 7.9 per cent.