UK: We are "outperforming" market, says Bakkavor
Bakkavor said it was growing market share and improving margins
UK own-label supplier Bakkavor said today (14 August) it was growing its market share and had "outperformed" the fresh prepared food market after reporting higher sales and profits.
Bakkavor posted a 3% rise in like-for-like sales to GBP442.5m for the second quarter, with adjusted margins at the EBITDA level up 30 basis points.
CEO Agust Gundmundsson said Bakkavor had enjoyed a "strong" first half of 2014 and had been building its market share.
Looking ahead, he added: "We expect the trading environment to continue to be challenging with the UK grocery market remaining highly competitive. Although the discounters continue to gain ground, we remain absolutely committed to supporting the growth plans of our existing customers. To achieve this, we are significantly increasing our capital spend to underpin recent business wins and we continue to invest heavily in product innovation."
For the six months to 28 June, Bakkavor booked operating profit of GBP30.4m, compared to GBP29.1m a year earlier.
Revenue reached GBP842.1m, versus GBP821.4m in the first half of 2013.
However, Bakkavor's net profit was down thanks to items including GBP14.5m of profit from now discontinued operations. Bakkavor's net profit stood at GBP3.1m, against GBP18.8m a year earlier. Net profit from continuing operations hit GBP3.3m, versus GBP3.4m last year.
Synopsis Canadean's "Bakkavor Holdings Ltd: Consumer Packaged Goods - Company Profile & SWOT Report" contains in depth information and data about the company and its operations. The profile contains a...
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global prepared meals market during December 2013....
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global soups market during December 2013....
Synopsis The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global prepared meals market during May 2014. Su...
Chilled & Deli Food in the United Kingdom industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile ...
- Focus: Why ABF is making bread better-for-you
- Why China was central to Nestle executive change
- just the answer: Gardein founder Yves Potvin
- Comment: How dairy can leverage nutrition
- Analysis: Quality, innovation driving Chinese milk
- Kellogg CEO: sales trends are improving
- Oreo, gum propels Mondelez in China
- Finsbury buys Johnstone's Just Desserts
- General Mills cuts Yoplait sugar by 25%
- Dean Foods brings milk brands under single label
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Global Seasonings, Dressings & Sauces Market: Merger and Acquisitions February 2015
- Food and beverage packaging today – what’s next?
- North America Food & Beverage Stabilizers and Systems Market – Analysis and Forecast upto 2019
- Global Food and Beverages Consumer Packaging Market Outlook to 2018 - Players Shifting Focus towards Emerging Markets