The Premier Foods Board is proposing a dividend for the full year of 1.2 per share, a 20.0% increase on the prior year. This reflects strong earnings per share growth in FY21/22, commitment to a progressive dividend and confidence in the Group's future plans.
Other financial highlights include:
Trading profit, Adjusted PBT and earnings per share ahead of previously raised expectations
Strong branded growth driving volume and value market share gains in both Grocery and Sweet Treats
Successfully navigating macro and industry wide supply chain challenges and continued inflationary environment
Trading profit margin increased 60 basis points to 16.5%, leveraging operational efficiencies
International revenue up +25% vs two years ago; strong growth on Sharwood's and Mr Kipling
Interest costs halved in last two years, reflecting strength of strategic progress and debt refinancing
Pensions merger now delivering through c.£60m reduction in NPV of cash contributions
New ESG strategy, the 'Enriching Life Plan', announced with a series of major sustainability commitments
Expectations for further good progress in FY22/23 unchanged
