Premier Foods is set to roll out more price cuts across its range of brands following strong sales over the golden quarter.
The Bisto and Ambrosia owner had its biggest Christmas to date as overall group sales were up 14.4% year on year in its third quarter, while grocery sales grew 11.9%.
It attributed the strong sales in part to sweet treats, which rose 21.3% by value.
Chief executive Alex Whitehouse said lower promotional price points that Premier Foods introduced in November “positively impacted performance while also helping consumer budgets go further”.
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He added that these lower prices will be extended to products such as Loyd Grossman cooking sauces and Mr Kipling Bakewell slices in the fourth quarter.
Some of Premier Foods most popular products over the period included mince pies – it sold four million more this Christmas than in 2022 – while its Bisto meat-free gravy, Paxo chicken and bacon stuffing, and Oxo stock pots also performed well.
The food manufacturer said it is “well on track” to meet its previously increased profit forecasts, having raised its guidance for the second time in November 2023.
It expects full-year trading profits to be 10% ahead of 2023’s £157.5m.
