LONDON (Alliance News) - Bakkavor Group PLC on Thursday said trading since the year end has been in line with management expectations despite the continuation of subdued consumer confidence and inflationary pressures.
The producer of fresh prepared food has retained its full-year guidance, with performance broadly in line with 2018.
In February, Bakkavor said its 2019 performance will be flat on 2018. It anticipates limited growth in the UK and a corresponding decline in the group's earnings before interest, taxes, depreciation and amortisation margin in the first half of the year. For the second half, it expects a significant improvement in trading.
In its annual general meeting statement on Thursday, Bakkavor said it continues to focus on protecting margins and seeking further opportunities to increase operating efficiencies and capacity.
"Despite current UK market challenges, we remain confident that our strategy, combined with our scale and expertise, leaves us well placed to capitalise on future growth opportunities," Bakkavor said. It added that demand in its international markets remained strong, and it continues to structure businesses in US and China for long-term growth.
Shares in FTSE 250 company were down 0.5% at 121.20 pence each on Thursday morning.
Bakkavor (BAKK)