Trading Statement

RNS Number : 9523Z

Bakkavor Group PLC

16 January 2020

 

16 January 2020

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 28 December 2019, ahead of its full-year results announcement on 27 February 2020. 

Group revenue on a reported basis increased by 1.5% and on a like-for-like* basis increased by 1.7% compared to the equivalent period in 2018, with encouraging progress made across the Group.

Whilst consumer confidence remains weak in the UK and continued to impact underlying volume growth, revenue on a like-for-like* basis increased by 0.2% in the UK, primarily as a result of a gain in H2 in our meals business. The International business delivered further volume growth resulting in a 12.8% increase in like-for-like* revenue as we broaden our customer base in both regions.

In the current economic environment, the Board considers this to be a solid performance and expects full-year results to be in line with expectations.

*Like-for-like revenue excludes associates, the impact of acquisitions, disposals, closures and foreign exchange translation

ENQUIRIES

Institutional investors and analysts:

Peter Gates, Chief Financial Officer

Sally Barrett-Jolley, Head of Corporate Affairs                                                       [phone]

Media:

Tulchan Communications                                                                                       [phone]

Will Smith

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.

 

END

 

 

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