One of Britain’s biggest food companies, Premier Foods, has revealed that sales for convenient products such as Super Noodles and Smash instant mash potato have increased as consumers stock up on cupboard items for lockdown.
Premier Foods owns some of the largest food brands in the UK, including Cadbury’s, Loyd Grossman and Mr Kipling. The group posted its full year results for 2019/2020, while also detailing the impact Covid-19 has had on the business.
In the report, it said that it experienced: “a dramatic short-term peak in volumes across many of its categories during March.” It added that volumes have reduced from the exceptional numbers it saw at the start of March, but still expects to be above than average.
As a result of the Covid-19 pandemic, the Group now expects to be at: “the top end of market expectations.”
To cope with the rising demand, the group said its manufacturing plants and distribution centres have continued to work at “maximum capacity” during this “challenging time”.
Premier Foods also said that it has given each factory worker two additional days of annual leave and a £250 cash bonus.
The Group said: “Volumes have started to reduce from the exceptional levels seen in March, although are still expected to continue to be higher than average patterns of demand. This reflects more meals being eaten at home than usual due to recent measures set out by HM Government and hence increased demand for the Group’s product ranges.”