Chilled foods supplier Bakkavor said it made a “good start” to 2013 as it moved to a profit in the first quarter.
In the three months to the end of March, the company booked earnings of GBP5.4m (US$8.2m). The compared to a net loss of GBP1.5m last, Bakkavor reported today (16 May).
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Operating profit in the period climbed 13.6% to GBP11.7m, while net sales were up 1.2% to GBP392.7m.
Bakkavor said growth was driven by recent business wins and productivity enhancements.
This week, Bakkavor said it would close its plant in Canada just two years after it opened.
“The group delivered encouraging sales growth in the quarter with our balanced and broad product portfolio enabling us to manage the well-publicised challenges faced by the whole industry from both food contamination and poor weather in the UK,” said CEO Agust Gudmundsson. “Although the economic climate remains tough we are confident of our strategy and we remain well positioned in the chilled convenience market”.
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