Premier Foods, AO World, and Logitech report a growth in Q3 sales

on Jan 19, 2021
Updated: Feb 10, 2023
  • Premier Foods says digital sales jumped 90% in the fiscal third quarter.
  • Online retailer AO World's third quarter sales climb by 67.2% in the UK.
  • Logitech's sales print an 80% year over year growth in the third quarter.

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In a report on Tuesday, Premier Foods plc (LON: PFD) said that its digital sales in the fiscal third quarter came in 90% higher than the same quarter last year. On the back of robust Q3 sales, the company said that it now expects its annual profit to remain resilient this year.

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The maker of Bisto Gravy and OXO cubes now forecasts its full-year trading profit to fall in the range of £145 million to £150 million. In the third quarter, the St Albans-based company added, overall sales posted a 9% annualised growth. Earlier in January, Premier Foods launched its new range of Easter cakes for 2021.

Premier Foods is currently trading at 104 pence per share after recovering sharply from a low of 19 pence per share in March 2020 when the impact of the COVID-19 crisis was at its peak.

AO World’s third-quarter UK sales jump 67.2%

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In related news, AO World plc (LON: AO) said that its third-quarter sales in the United Kingdom saw a 67.2% year over year growth. The online retailer attributed the surge to the ongoing COVID-19 crisis and said:

“We’ve seen ten years of change in ten months, and experienced our strongest ever peak trading period.”

For the three months that concluded on 31st December, AO World recorded £457.3 million of sales. AO World had swung to £18.3 million of profit in the fiscal first half, as per the report published in the last week of November.

AO World jumped roughly 2.5% in premarket trading but slid over 8% on market open. The price action should come in handy if you want to invest in the stock market.

Logitech says its Q3 sales come in 80%

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Computer peripheral maker, Logitech S.A. (SWX: LOGN) also followed in the footsteps and reported an 80% annualised growth at a constant currency basis in its third-quarter sales on Tuesday. The Swiss-American manufacturer said that its operating income stood at a 200% higher £329 million in Q3.

For the full financial year, Logitech now forecasts an up to 60% year over year growth in sales. It expects its annual non-GAAP operating income to come in at £770 million. Logitech performed fairly upbeat in the stock market last year with an annual gain of more than 60%. At the time of writing, the Lausanne-based company is valued at £13.57 billion and has a price to earnings ratio of 27.13.


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