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(Sharecast News) - Mr Kipling and Bisto owner Premier Foods said on Thursday that it was on track to meet full-year trading profit expectations as it posted a jump in first-quarter sales and hailed further market share gains in both Grocery and Sweet Treats.
In the 13 weeks to 27 June, UK branded revenue rose 3.8%, led by a strong performance from Sweet Treats. Mr Kipling was one of the fastest-growing brands, with sales up 9%.
In Sweet Treats, Premier Foods said new product development was again a major contributor to growth, with recent launches such as Birthday cake slices and a new range of whirls flavours, such as Cookies & Cream and Custard Cream.
Revenue in new categories was up 16%, reflecting particularly good growth form Cape Herb & Spice. International revenue grew 6%, with "encouraging" progress in North America and Europe, the company said.
The company said it's now on track to meet FY26/27 trading profit expectations of 211.4m.
Chief executive Alex Whitehouse said: "We again outperformed our categories, leading to further market share increases, building on previous gains and we also gained further retailer distribution points, as we continue to land more product ranges in store.
"Our acquired brands, The Spice Tailor, FUEL10K and Merchant Gourmet all delivered double-digit revenue growth, continuing the great momentum we've built since acquiring them and they remain on track to generate approximately 100m revenue this year.
"Overseas, we launched FUEL10K into Europe and continued the rollout of Mr Kipling in North America. Following this good start to the year, and with further progress expected across all our strategic priorities in FY26/27, we remain on track to deliver trading profit expectations for this year."
At 0917 BST, the shares were down 1.5% at 195.91p.
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