Food manufacturer Premier Foods has released its full year results for the 52 weeks ending 29th March 2025.
It found that branded revenue was up 5.2%, which it attributed to strong branded volume growth. Total headline grocery branded revenue was up 4.6%, and its sweet treats category saw branded revenue up 7.3%. UK branded revenue was up 4.4%, while international revenue was up by 23%.
For the 2024/25 financial year, branded revenue hit £1,008 million, up from the FY23/24 revenue of £958.1 million. FY24/25 saw adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of £213.2 million, and FY23/24 recorded adjusted EBITDA of £201.6 million.
Headline trading profit was ahead of expectations and up 6% on the prior year, while adjusted profit before tax was up 8.8% to reach £169.3 million.
“Our premiumisation strategy continues to be highly relevant, reflecting the trend for consumers to trade up and treat themselves.”
Alex Whitehouse, chief executive officer at Premier Foods, commented: “The business has delivered another strong year, with branded revenue growth up 5.2%, exceeding £1 billion, and driven by particularly good volumes which resulted in us taking further market share. With this strong branded performance, trading profit grew 6% compared to last year, exceeding our previously raised expectations.
“Our premiumisation strategy continues to be highly relevant, reflecting the trend for consumers to trade up and treat themselves to ranges such as our Ambrosia Deluxe and Mr Kipling Signature Bites, both of which delivered very strong revenue growth this year. Our Nissin noodles again achieved double-digit sales growth, taking yet more market share and benefitted from the addition of big pots and Demae Ramen to the range.
“In addition to the strong financial performance, we have also made progress against all the pillars of our growth strategy; we significantly increased capital investment in our manufacturing sites this year, delivering improved efficiencies and providing the platform for future growth.”
Whitehouse continued: “Our revenue in new categories rose by 46%, led by Ambrosia porridge pots and we also grew our overseas businesses by 23%. Additionally, and as we apply the benefits of our branded growth model, our acquired brands, The Spice Tailor and FUEL10K, both delivered double-digit sales growth this year and remain well-set for significant future growth.
“As we look ahead to the coming year, we expect revenue growth to be supported by a strong product innovation programme and our expectations for trading profit growth are unchanged. In line with our capital allocation framework, we will continue to invest in projects to both increase efficiencies and automation and facilitate growth through product innovation and capacity while we also remain focused on pursuing M&A opportunities where we can add value to brands through the application of our branded growth model.”
