31st Oct 2013 08:39
LONDON (Alliance News) - British food producer Premier Foods PLC (PFD.L), Thursday, in an interim announcement, said its third-quarter total underlying sales decreased 3.2% to 283.2 million pounds, from 292.5 million pounds last year. The underlying sales for both the periods exclude Milling sales and a high cost to serve Bread contract exited in April 2013 as well as all disposals completed earlier.
For the three-month period, Grocery Power Brands sales rose 2%, while total Grocery sales dropped 4%, owing to lower Support Brand and Non-branded sales. Bread business sales, excluding Milling and a high cost to serve contract exited in April, were 1.5% lower year-over-year, reflecting a slower start to the quarter as a result of the hotter July weather.
With a well planned and solid programme of activity in place for the important Christmas trading period, the company's full year expectations remain the same.
Copyright RTT News/dpa-AFX
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