UK: Bakkavor returns to Q3 profit
- Earnings amount to GBP2.8m
- EBITDA up 6%
- Net sales grow 2%
Bakkavor's profit was driven by an increase in operating profit
UK own-label firm Bakkavor has returned to profit in the third quarter of the year.
Earnings in the three month period amounted to GBP2.8m (US$4.5m) compared with a loff of GBP5.7m in the prior year. The improvement was predominantly driven by an increase of GBP4.6m in operating profit and a reduction in finance costs, the company said today (8 October).
EBTIDA amounted to GBP31m, a 6% increase on last year, while sales climbed 2% to GBP422.3m.
Capital expenditure programmes and product innovation delivered incremental sales
growth, the company said.
French dairy group Candia has named former Bakkavor and Bonduelle executive Giampaolo Schiratti as its new CEO....
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