07/23/2021 | Press release | Distributed by Public on 07/23/2021 00:06
23/07/2021 : The Headlines:
Alex Whitehouse, Chief Executive Officer
'We have made a very encouraging start to the year, with Quarter 1 sales at the top end of our expectations, as our brands again benefited from the introduction of new products and continued marketing investment. When compared to two years ago, our branded sales increased by over 9% with grocery brands up 12%, continuing the strong momentum of recent years. As expected, overall sales were down compared to the same quarter a year ago when we saw exceptionally high grocery volumes during the first national lockdown.'
'Sales online through our retailers e-commerce platforms remained at elevated levels and nearly twice that of two years ago, retaining most of the gains from last year. Branded Sweet Treats grew year on year, with Mr Kipling up 7.5%, benefiting from our range of low sugar options and the ongoing success of the premium Signature range. I'm very pleased by the progress of our healthier options ranges, such as Sharwood's low fat cooking sauces, which have grown at over twice the rate of our branded portfolio, as consumers continue with their recently adopted good healthier eating habits. International also performed particularly well, building on the very strong gains from last year, growing by +17% on a two year basis, as we continue to build sustainable, profitable overseas businesses.'
'With our continued strong trading momentum and the substantially lower coupon of the new fixed rate notes at 3.5%, we now expect to deliver adjusted Profit Before Tax at the top end of our expectations for FY21/22.'
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