Bumper year for Premier
PREMIER FOODS has released healthy figures which show it put on weight last year despite a fire which knocked out its lucrative Branston pickle brand.
Its flotation last summer had an impact on the bottom line, the company said, but pre-tax profits still reached at £8.7m, compared to a £300,000 loss the previous year.
What do you buy | |
Desserts | Ambrosia Gale‘s Hartley‘s Rose‘s Rowntree‘s Sunpat |
| Hot drinks | Typhoo tea Cadbury‘s |
| Pickles & vinegars | Branston Haywards Sarsons Dufrais |
| Sauces | Loyd Grossman Crosse & Blackwell |
| Potatoes | Smash |
But Sainsbury‘s will stop buying potatoes from Premier in July, and two out of its six packing houses have
And a fire in October at the firm’s Bury St Edmunds plant, which produces Branston pickle and “Loyd Grossman” cooking sauces, also took its toll on growth.
Premier says that it is on target to meet growth forecasts in 2005, despite the Sudan 1 food scare, which affected products using its Worcester sauce.
The portfolio of branded products has already grown to include Angel Delight and Bird’s, which were added to the £176m spreads and desserts business last month.
Premier shares rose 10p to 274p following the release of its figures, but 20p down on February highs.