Bakkavor, the UK-based private-label supplier, has reported an acceleration in its like-for-like sales in the second quarter, which supported increasing half-year sales and profits.
The company’s like-for-like revenue increased 3.6% to GBP437.9m (US$567.7m) in the three months to the end of June, up 3.6% on a year earlier. In the first half of 2016, Bakkavor’s like-for-like sales rose 2.7% to GBP853.6m.
Go deeper with GlobalData
Bakkavor saw like-for-like revenue from its domestic and international operations quicken in the quarter.
Like-for-like revenue in the UK rose 2.8% in the second quarter. Bakkavor said it grew revenues from “all four key customers”.
Bakkavor’s operations outside the UK posted an 11.9% increase in like-for-like sales. The company pointed to an expanding market for “short, shelf-life fresh prepared foods” in the US.
See Also:
On a reported basis, Bakkavor posted a 3.2% rise in second-quarter revenue to GBP438.7m. First-half revenue increased 2.3% to GBP854.5m.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBakkavor provided an adjusted EBITDA figure, which strips out items including restructuring costs and royalty charges, of GBP41.4m for the second quarter, up 18% on a year earlier. First-half adjusted EBITDA rose 20% to GBP71.9m.
Second-quarter net profit stood at GBP20.1m, against GBP5.3m a year earlier. First-half net profit was GBP26.1m, against GBP3.7m a year ago.
