Belfast Telegraph

Ambrosia owner sees quarterly sales drop

By Graeme Evans

The maker of Mr Kipling cakes and Ambrosia desserts felt the impact of the supermarket sector's troubles with a 6.2% drop in quarterly sales.

Premier Foods, whose portfolio includes Bisto gravy and Loyd Grossman sauces, described the grocery market as subdued and blamed a later Easter and milder weather for the fall in the three months to the end of March.

It expects trading conditions will remain tough over the rest of the year but said it is on track to meet annual forecasts over the second half of the year.

Premier, which recently completed a £1.1bn financial restructuring, said total sales were 6.2% lower at £186.3m in the quarter, with the figure for frontline brands such as Mr Kipling down 3.5% at £123.7m.

The group's support brands, like Homepride and Angel Delight, were down 10.4% to £42.8m.

All four major supermarket chains saw declining sales in the 12 weeks to March 30 after the latest till-roll figures from Kantar Worldpanel showed further market share inroads were made by discounters Aldi and Lidl.

Belfast Telegraph