Premier Foods - Innovation continues to drive growth
Premier Foods’ FY20 results demonstrate the substantial progress the company has made over the past few years. The UK business has now grown for 11 consecutive quarters and Q121 is set to be very strong. In the UK the brands grew ahead of their categories and the innovation rate has hit a new high. A new landmark pensions agreement was signed in April, which could potentially significantly reduce the future funding requirements for Premier Foods. The recent triennial actuarial valuation delivers further credence to the pensions deal.Premier Foods is a food company. Co.'s business is organized around five main categories: flavourings & seasonings with brands that include Bisto, OXO and Paxo; cooking sauces and accompaniments with brands that include Sharwood's, Loyd Grossman and Homepride; quick meals & soups with brands that include Batchelors and Smash; ambient desserts with brands that include Ambrosia, Bird's, Angel Delight, Mr Kipling and Cadbury; and ambient cakes with brands that include Mr Kipling, Cadbury and Lyons. Co.'s key customers include U.K. supermarkets as well as a range of other channels including discounters; convenience stores; online; wholesale and food service.
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