Last checked at 18 Jan 2019 07:00
18 January 2019
Bakkavor Group plc
Pre-Close Trading Statement
Bakkavor Group plc ("the Group"), the leading provider of fresh prepared food, announces the following update for the 52 weeks ended 29 December 2018, ahead of its preliminary results announcement on 28 February 2019.
Group revenue on a reported basis increased by 2.2% and on a like-for-like* basis increased by 3.2% compared to the equivalent period in 2017, with good progress made across the Group.
Whilst consumer confidence has continued to be weak, revenue on a like-for-like* basis increased by 1.8% in the UK. The International business delivered good volume growth resulting in a 16.0% increase in like-for-like* revenue.
In the current economic climate, the Board considers this to be a robust performance and confirms that expectations for the full year are unchanged.
Enquiries:
Institutional Investors and analysts:
Peter Gates, Chief Financial Officer
Sally Barrett-Jolley, Head of Corporate Affairs +44 (0) 20 7908 6135
Media:
Catherine James, Will Smith, Jessica Reid
Tulchan Communications +44 (0) 20 7353 4200
*Like-for-like revenue excludes associates, the impact of acquisitions, disposals, closures and foreign exchange translation.
LEI number: 213800COL7AD54YU9949
DISCLAIMER - FORWARD-LOOKING STATEMENTS
This trading update, prepared by Bakkavor Group plc (the "Company"), may contain forward-looking statements about Bakkavor Group plc and its subsidiaries (the "Group"). Forward-looking statements involve uncertainties because they relate to events, and depend on circumstances, that will, or may, occur in the future. If the assumptions on which the Group bases its forward-looking statements change, actual results may differ from those expressed in such statements. Forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to update these forward-looking statements. Nothing in this statement should be construed as a profit forecast. Some numbers and period on period percentages in this statement have been rounded or adjusted in order to ensure consistency with the financial information.