Tough start to 2010 for Premier Foods
The maker of Hovis bread, Premier Foods, has reported that group sales fell by 5.1% in the first quarter of the year, due to “challenging trading conditions”, especially in its non-branded sales.
But, the Hovis brand continued to grow, with year-on-year sales value growth of 4.7% and volume growth of 8.5%. The firm said this strong performance was supported by conversion of the entire Hovis range to 100% British wheat. Hovis saw its value market share increase slightly to 25.6%, but an increase in competitor promotional activity was likely to result lower market share in Q2, a statement said.