Premier Foods Gains from Inflation as Britons Consume More at Home

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class="attribute-action social-action align-right" style="float:right !important"> <div class="social-stack-action-more"> <a class="chunk brand trim clear button rotator" data-toggle="social-media-optionDetailsPage1"> <span>Share</span><i class="gd-ico gd-chevron-down color-border"></i> </a> <div id="social-media-optionDetailsPage1" class="dropdown-pane gutter-collapse " data-v-offset="6" data-close-on-click="true" data-dropdown> <ul id="DDPMenusocial-media-option" class="menu vertical dropdown" data-dropdown-menu data-disable-hover='true' data-click-open='true'> <li> <a onclick="Register()"> <i class="gd-ico gd-contact-twitter "></i> <span>Share on Twitter</span> </a> </li> <li> <a onclick="Register()"> <i class="gd-ico gd-contact-linkedin "></i> <span>Share on LinkedIn</span> </a> </li> </ul> </div> </div> </div> <ul class="breadcrumbs"> <li> <span>Industry: Food</span> </li> <li> <span class="show-for-sr">Current: </span>Company Performance </li> </ul> <div id="divManualupload" class="cell"> <div class="graph-chart "> <div class="chart"> <ul> <li><em>The deepening cost-of-living crisis in Britain is forcing more and more people to eat at home</em></li> <li><em>Inflation in the UK increased significantly in 2022 to 9.1% over that in the previous years, according to GlobalData</em></li> <li><em>The rate in the consumer prices in the UK increased 11.1% in October 2022, the highest level in 41 years</em></li> </ul> <h1><strong>Premier Foods Plc’s Revenue, Net Profit, and Increasing Inflation in UK</strong></h1> <p>Even as the increasing inflation in the UK pushes the prices of food to exorbitant levels, it also has a positive aspect, as claimed by Premier Foods Plc, the company that dishes out Mr. Kipling cakes and Bistro gravy. The worsening cost-of-living crisis in the UK is forcing more and more people to eat at home, which increased the company’s revenue by 6.2% and adjusted pretax profit by 11.9% in the six months ending October 1, 2022, despite rapid price inflation.</p> <p>As reported by the company, the total revenue and net profit of Premier Foods Plc decreased significantly in the second half that ended September 2022, to GBP418.6 million and GBP36.1 million, respectively.</p> <p><iframe title="Premier Foods Plc's Total Revenue and Net Profit (Sep 2020 - Sep 2022, GBP Million)<br /> " aria-label="Split Bars" id="datawrapper-chart-tCJSZ" src="https://datawrapper.dwcdn.net/tCJSZ/3/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="290" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data["datawrapper-height"][a]+"px"}}}))}();<br /> </script></p> <p>Consumers continue to face untold hardships in the current economic environment. People are beginning to dine at home more frequently as they are forced to reduce eating out. Inflation in the UK increased significantly in 2022 to 9.1% over that in the previous years, according to GlobalData.</p> <p><iframe title="UK's Consumer Price Inflation (2017 - 2022E, %)<br /> " aria-label="Column Chart" id="datawrapper-chart-qJx89" src="https://datawrapper.dwcdn.net/qJx89/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% !important; border: none;" height="450" data-external="1"></iframe><script type="text/javascript">!function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r<t.length;r++){if(t[r].contentWindow===e.source)t[r].style.height=e.data["datawrapper-height"][a]+"px"}}}))}();<br /> </script></p> <p>The rate in the consumer prices in the UK increased 11.1% in October 2022, the highest level in 41 years. To meet its objectives for fiscal 2023, Premier Foods is relying on a “cheap meals” advertising campaign as the holiday season draws near and federal spending declines.</p> </div> </div> </div> <div class="grid-x grid-margin-x grid-padding-y"> <div class="cell"> <div class="cell"> <div class="unlock-bar divBanner"> <span class="hide-for-small show-for-medium spnText"> Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. </span> <span class="show-for-small hide-for-medium spnText"> Get a 360 degree view on a company powered by live data from the GlobalData Intelligence Center. </span> <a class="button interactive-primary" href="https://www.globaldata.com/companies/"> <span> Explore Company Solutions </span> </a> </div> </div> <style> .divBanner { background-image: url('https://assets.globaldata.com/gdic/assets/img/bg/bg-marketing-dots_right.png') !important; background-size: 100% !important; border-radius: 0px !important; padding: 1.75rem; } 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