Premier Foods ups marketing focus in Christmas push as profits rise
Continuing to invest in its brands has paid off for Premier Foods, which is seeing signs shoppers are willing to pay a “little bit more” for higher quality products.
Premier Foods is increasing its marketing efforts in the run up to Christmas, as the parent company behind Mr Kipling, OXO and Bisto saw its share price hit its highest level in 13 years.
Compared to the first half of 2023, branded revenue rose 6.8% to £444.7m, with trading profit up 5.5% to £70.2m, according to the company’s half year results for the 26 weeks ending 28 September.
Growth in the sweet treats and grocery businesses, alongside lower promotional prices, were credited with driving success. The company started investing in price promotions last November in reaction to slowing inflation.
Sales, marketing and distribution spend fell from £84.5m in the first half of 2023 to £77.2m for the same period in 2024.
