• Earnings amount to GBP2.8m
  • EBITDA up 6%
  • Net sales grow 2%
Bakkavors profit was driven by an increase in operating profit

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.