Tuesday, August 9, 2022

Hovis breadmakers announce strong first half sales

The maker of Hovis bread, Premier Foods, have reported strong sales in its bread division as sales rose 8.2 percent to £356m.

It also lessened its losses to £23.5m in the six months to the end of June. In the same period last year, it recorded a loss of £45.8m.

The company have now grown sales in its Grocery Power Brands for six consecutive quarters and increased sales by 4 per cent.

However, the reorganisation and closure of three bakeries and two distribution sites has cost the business £12.4m.

In a statement accompanying the interim results, chief executive Gavin Darby said: “A 50 per cent increase in Trading Profit is a very encouraging result given the highly competitive environment. This shows that our turnaround strategy is delivering at the bottom line.

“We have already completed the actions to deliver the promised £20m of overhead cost savings for 2013 and continue to keep a tight control over costs.”


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