Strong Branded Growth
Q2 U.K. branded growth was up 3%, bringing H1 up to 2%. Total branded revenue for the half increased by 1.9%.
Market Share Gains
Premier Foods achieved market share gains of 130 basis points over 3 years.
Profitability Improvements
Excluding the extended producer responsibility levy, trading profit is up 7% and adjusted PBT is up 10%.
Leverage Reduction
Net debt to EBITDA is only 1%, highlighting strong leverage reduction efforts.
Sweet Treats Segment Success
Sweet Treats grew 9.4% from a branded perspective.
CapEx and Strategic Investments
CapEx increased to GBP 55 million, focusing on value-creating projects with potential high returns.
International Growth
North America saw double-digit growth in Q2, and Australia experienced a 17% growth for Cake.
Successful Inorganic Opportunities
Merchant Gourmet was acquired in September and is integrating well into Premier Foods' operations.