Strong growth for Mr Kipling as its signs US deal

April 20, 2021 0 Comments

first_imgSource: Premier FoodsPremier Foods has signed an agreement to sell and market Mr Kipling cakes in the US, as it reveals the brand is on track for ‘another record year’.The deal between Premier Foods and Weston Foods, a North American baking company, was announced in its trading update today (19 January) with the first shipments of cake expected to commence in the first quarter of the 2021/22 financial year.It forms part of Premier’s international strategy to deliver ‘sustainable profitable growth’ with a major emphasis on in-market execution and ensuring the optimal route to market for its brands.This has already seen Mr Kipling venture to Australia, delivering ‘very healthy sales’ alongside Cadbury cakes in Q3 – the 13 weeks ending 26 December 2020. The brand is also being tested in Canada with ‘encouraging’ sales so far.Premier Foods’ overall international business grew strongly in this quarter with sales up 43%. This was partly helped by the buy in of products ahead of the 31 December EU exit date.It added that with a free trade agreement with the EU in place, it is not expecting any material impact from tariff changes. To date, the new arrangements have not resulted in ‘any major disruptions’ to its supply chain.Sweet treatsPremier Foods’ Sweet Treat division generated sales of £81.6m in Q3 2020/21 – a 0.5% increase compared to the same quarter in 2019/20. Year-to-date sales for the division sit at £186.3m.Growth was driven by branded products, which includes Mr Kipling and Cadbury cakes, which accounted for £55m worth of sales in the quarter – an increase of 5% versus the previous year.Mr Kipling is on track for ‘another record year’ with sales rising 7% in the quarter, alongside further market share gains. The brand has continued to benefit from the launch of new product ranges and an extended period of marketing investment, Premier added. Recent NPD includes reduced sugar Viennese Whirls and After Dinner Chocolate & Orange Fancies.Cadbury cakes also increased its market share and saw sales increase both in the UK and overseas.Sales of non-branded sweet treats, meanwhile, fell 7.5% to £26.6m.“Looking to the remainder of the year, out of home eating is likely to remain heavily restricted and we therefore expect to see continued high levels of consumer demand for our products. With more brand investment to come, we now expect trading profit to be in the range of £145-£150m this year,” said CEO Alex Whitehouse.last_img read more

Mobile bankers equal happy customers

December 18, 2020 0 Comments

first_img 8SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Brian DayA new study shows those who use mobile banking are among the most loyal and happy financial institution (FI) customers/members. As consumers become increasingly comfortable with and accustomed to mobile banking, their allegiance and satisfaction is on the rise.The recent survey of U.S. FI consumers revealed 82 percent of mobile banking app users are satisfied with their FI. Further, 76 percent of app users are likely to recommend their FI to others. Not surprisingly, the survey, conducted for FICO, also found younger consumers engaged more with their FIs via mobile devices. Seventy percent of survey respondents between the ages of 25 and 34 use a mobile banking app. Among customers between ages 35 and 49, that number dropped to 54 percent. Just 36 percent of survey participants over the age of 50 said they use mobile banking apps.Additionally, Millennials are more likely to interact with their FIs through text messages. Sixteen percent said they would prefer text messages over other forms of communication, including emails and phone calls. Just 9 percent of the respondents between ages 35 and 49, and 5 percent of those over the age of 50, expressed the same preference. continue reading »last_img read more