Bakkavor sales rise as UK volumes return to growth

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FinanceFMCGNews

Bakkavor sales edged up in the first quarter of 2024, driven by volume growth in its UK business.

The food manufacturer’s group sales rose 3.2% to £543m for the 13 weeks to 30 March 2024, while UK sales were up 4.1% to £458m.

The group flagged its “strong” profit performance as it upped its full year adjusted operating profit guidance with a new range of £103m to £108m.

It said the new forecast comes, in part, as a result of further synergies and efficiencies in the UK following the successful implementation of its 2023 plan, with inflation moderating and price recovery secured.


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Volumes strengthened throughout the quarter in the UK, which Bakkavor said was supported by improving consumer confidence, successful innovation and “excellent” service.

Bakkavor chief executive Mike Edwards said: “Last year we executed a dynamic plan to reset the business and I am delighted that the momentum this has created across the group has underpinned our strong first quarter performance.”

“We are confident in delivering our increased guidance for 2024. I’d like to thank the entire Bakkavor team, because it is their exceptional commitment and dedication that ensures we continue to deliver for our customers and shareholders.”

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Bakkavor sales rise as UK volumes return to growth

Bakkavor logo

Bakkavor sales edged up in the first quarter of 2024, driven by volume growth in its UK business.

The food manufacturer’s group sales rose 3.2% to £543m for the 13 weeks to 30 March 2024, while UK sales were up 4.1% to £458m.

The group flagged its “strong” profit performance as it upped its full year adjusted operating profit guidance with a new range of £103m to £108m.

It said the new forecast comes, in part, as a result of further synergies and efficiencies in the UK following the successful implementation of its 2023 plan, with inflation moderating and price recovery secured.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


Volumes strengthened throughout the quarter in the UK, which Bakkavor said was supported by improving consumer confidence, successful innovation and “excellent” service.

Bakkavor chief executive Mike Edwards said: “Last year we executed a dynamic plan to reset the business and I am delighted that the momentum this has created across the group has underpinned our strong first quarter performance.”

“We are confident in delivering our increased guidance for 2024. I’d like to thank the entire Bakkavor team, because it is their exceptional commitment and dedication that ensures we continue to deliver for our customers and shareholders.”

FinanceFMCGNews

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