Q3 Trading Update

21 January 2026

Premier Foods plc (the "Group" or the "Company")

Premier Foods today provides its Quarter 3 trading update for the thirteen weeks ended 27 December 2025

Note: Headline results presented for the quarter exclude the effect of the Charnwood site closure in the prior year

"We had a really good Christmas with 5.2% branded revenue growth, accelerating our trend from the previous quarter. These results demonstrated strong delivery against all pillars of our strategy, with consumers continuing to choose our brands for their quality and value. Both our Grocery and Sweet Treats businesses made strong progress in the period, and we returned to double-digit revenue growth overseas with particularly good performances in Australia and the US."

"Our product innovation programme is particularly strong this year and consumers are embracing our new ranges including OXO Bone Broth, Paxo Stuffing Wreath, Angel Delight Bubble Jelly and Mr Kipling Cake Bites tubs. Premium ranges such as Ambrosia Deluxe, The Spice Tailor and Mr Kipling Signature Mince Pies again outperformed the market, as consumers traded up over the festive period. Sales from New Categories delivered another strong quarter, up 29%, led by the growing success of FUEL10K yogurt and granola. We grew all of our acquired brands double digits, including our most recent acquisition Merchant Gourmet, as we further leverage both our commercial expertise to expand retailer distribution and marketing capabilities to drive product innovation and increase brand investment."

"Our portfolio of brands offer consumers great options to cook and eat affordable, delicious meals at home, and together with our track record of performance through all economic cycles, firmly underpins confidence in our medium-term prospects. Following this strong period of trading and strategic progress, we now expect to deliver Trading profit at the upper end of expectations for this year."

Grocery

Grocery Branded revenue increased by 5.8%3 in the quarter, an acceleration on quarter 2, with total revenue for the Grocery business up 4.1%3. Grocery also increased market share in the quarter, as it continues its long-term trend of growing ahead of its categories. This momentum reflected the launch of a range of exciting new products in quarter 3, which were key contributors to growth. OXO introduced ready to use stock and Bone Broth product ranges, Paxo launched Stuffing Wreaths for Christmas accompanied by its first advertising campaign for over 40 years and Angel Delight was inspired by the bubble tea consumer trend bringing to market Bubble Jelly. The Ambrosia Deluxe range significantly outperformed the category in the quarter, as consumers continue to choose premium offerings.

Sales from new categories increased by 29% in the period, helped by the emerging success of FUEL10K Yogurt & Granola pots and additional distribution for Cape Herb & Spice. The Group's acquired brands, The Spice Tailor and FUEL10K, yet again grew sales in double-digit terms, as The Spice Tailor continues to expand its range and FUEL10K launched ready to eat porridge pots and delivered further strong progress from its core Granola range. Merchant Gourmet enjoyed a strong first full quarter under the Group's ownership and delivered revenue growth of 18%5 in the period, while Nissin increased sales double-digits reflecting growth in Demae Ramen and new Soba Protein pots. Non-branded sales were (7.5%) lower due to the planned exit of some lower margin contracts on Stuffing and Custard.

Sweet Treats

Sweet Treats had another good quarter, delivering branded revenue growth of 3.1%, after lapping strong comparatives from last year and also gained market share. As in the first half of this year, this growth was fuelled by its extensive product innovation programme, including ranges such as Mr Kipling Cake Bites, Breakfast Bakes and Cadbury Caramel Mini Rolls. The premium range of Mr Kipling Signature mince pies grew 19% in the quarter through increased distribution levels, as consumers traded up and treated themselves over the festive period. Non-branded Sweet Treats returned to growth with revenue up 2.0% in the period due to contract wins on Tarts and seasonal ranges.

International

The International business resumed its double-digit revenue growth trend in the quarter, led by increased sales of cake in Australasia, which was also reflected in continued strong in-market performance and further share gains. Additionally, The Spice Tailor and Sharwood's contributed to further progress in the quarter, following the launch of The Spice Tailor big packs and increased sales of the core Sharwood's range. The USA also delivered strong revenue growth reflecting a full quarter of new distribution on Mr Kipling Apple Pies and increased distribution on Mr Kipling slices. Looking ahead, the Group has secured listings of FUEL10K Granola in Europe for the first time, effective from Q4.

Following a strong trading performance in the Group's key quarter, together with further progress against all pillars of its strategy, Trading profit for the FY25/26 financial year is now expected to be at the upper end of market expectations.

As one of the UK's largest food businesses, we're passionate about food and believe each and every day we have the opportunity to enrich life for everyone. Premier Foods employs over 4,000 people operating from 13 sites across the country, supplying a range of retail, wholesale, foodservice and other customers with our iconic brands which feature in millions of homes every day. 

Through some of the nation's best-loved brands, including Ambrosia, Batchelors, Bisto, Loyd Grossman, Mr. Kipling, Oxo and Sharwood's, we're creating great tasting products that contribute to healthy and balanced diets, while committing to nurturing our people and our local communities, and going further in the pursuit of a healthier planet, in line with our Purpose of 'Enriching Life Through Food'.

A conference call for investors and analysts hosted by Alex Whitehouse, CEO and Duncan Leggett, CFO, will take place today, 21 January 2026, at 8.30am, details of which are outlined below. A replay of the conference call will be available on the Company's website later in the day:  www.premierfoods.co.uk/investors/results-centre

This announcement may contain "forward-looking statements" that are based on estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements are all statements other than statements of historical fact or statements in the present tense, and can be identified by words such as "targets", "aims", "aspires", "assumes", "believes", "estimates", "anticipates", "expects", "intends", "hopes", "may", "would", "should", "could", "will", "plans", "predicts" and "potential", as well as the negatives of these terms and other words of similar meaning. Any forward-looking statements in this announcement are made based upon Premier Foods' estimates, expectations and beliefs concerning future events affecting the Group and subject to a number of known and unknown risks and uncertainties. Such forward-looking statements are based on numerous assumptions regarding the Premier Foods Group's present and future business strategies and the environment in which it will operate, which may prove not to be accurate. Premier Foods cautions that these forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in these forward-looking statements. Undue reliance should, therefore, not be placed on such forward-looking statements. Any forward-looking statements contained in this announcement apply only as at the date of this announcement and are not intended to give any assurance as to future results. Premier Foods will update this announcement as required by applicable law, including the Prospectus Rules, the UK Listing Rules, the Disclosure Guidance and Transparency Rules, the rules of the London Stock Exchange and any other applicable law or regulations, but otherwise expressly disclaims any obligation or undertaking to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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