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Share Price Information for Bakkavor (BAKK)

London Stock Exchange
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Share Price: 138.50
Bid: 137.00
Ask: 138.50
Change: 1.00 (0.73%)
Spread: 1.50 (1.095%)
Open: 139.00
High: 139.00
Low: 136.50
Prev. Close: 137.50
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Bakkavor Posts Robust Performance Despite Weak UK Consumer Confidence

Fri, 18th Jan 2019 07:57

LONDON (Alliance News) - Bakkavor Group PLC on Friday reiterated expectations for 2018 as it reported 1.8% like-for-like revenue growth for its core UK division despite weak consumer confidence.

The company, which makes salads, pizza, ready meals and soups on behalf of UK supermarkets like Tesco PLC, J Sainsbury PLC, WM Morrison Supermarkets PLC and Waitrose, recorded 3.2% year-on-year growth in group like-for-like revenue for the 52 weeks to December 29.

Reported revenue increased 2.2%.

Bakkavor's international division, comprising businesses in the US and China, delivered "good" volume growth leading to a 16% year-on-year jump in like-for-like revenue.

"In the current economic climate, the board considers this to be a robust performance and confirms expectations for the full year are unchanged," the company said in a short statement.

In 2017, the company generated revenue of GBP1.81 billion and adjusted earnings before interest, taxes, depreciation and amortisation of GBP152.6 million.

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