19 March 2012 - 8:07am | posted by | 0 comments

Premier Foods set to double marketing expenditure for Power Brands during 2012

Premier Foods set to double marketing expenditure for Power Brands during 2012Premier Foods set to double marketing expenditure for Power Brands

Premier Foods is set to double its marketing investment in brands such as Oxo, Mr Kipling and Hovis, having seen a sales decline across the business of 3.4% in 2011.

The company, announcing its full year results for last year, saw a decline in sales across Premier Foods brands, although it still generated a trading profit of £173.3m.

The company’s net debt is also reported to be £995.1m as of the end of last year.

In highlighting its growth strategy for 2012, aligned with the ‘Best in British Food’ message, Premier Foods has said that it plans to double its investment into marketing its eight Power Brands this year, followed by ‘sustainable increase’ for subsequent years.

Michael Clarke, CEO of Premier Foods, said: "I'm delighted that we have been able to reach a positive outcome with our banking and pension scheme partners. The consent for this re-financing package represents a strong sign of confidence and support for the business, its strategies and growth plans. This is great news for our employees and all of our stakeholders."

Don't miss out... Get your Marketing news by email

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

Agency51 Design & Development - Women Make Waves

22/07/2014
Challenge. Women Make Waves is a new online blog network...

Swoon Editions

22/07/2014
The Client Swoon Editions is an online furniture brand that...

Asda Store Proposition Intranet

17/07/2014
The Client Asda is Britain’s second largest supermarket...

Timberland Apparel merchandising

15/07/2014
Six large installations in Milan for footwear and apparel....

Hudson Fuggle: Case study

15/07/2014
We spoke to Sue Higgins Finance Director at creative agency...