FDBusiness.com

Bakkavor Expects Trading Environment to Remain Challenging

 Breaking News
  • Ardgowan Unveils Plans For Inverclyde Distillery Ardgowan Distillery has revealed ambitious designs for its new £12 million distillery which is being built on the Ardgowan Estate near Inverkip, 30 miles west of Glasgow. The plans showcase the flagship building which has just secured revised planning consent from Inverclyde Council. The striking new design, by Michael Laird Architects, brings a number of improvements [...]...
  • HKScan Launches Exports of Finnish Poultry Products to Sweden HKScan, the Nordic food and meat group, has started exporting Finnish poultry products to Sweden. They will initially be sold through the largest retailer ICA’s outlets under the Karinäs®(Kariniemen®) brand. The launch gives Swedish consumers access to a new innovation: high welfare farm-born poultry that is hatched on the farm where it is raised. This new concept is [...]...
  • Almonds Retain Top Spot For Nut Introductions in Europe According to Innova Market Research’s latest Global New Product Introductions Report, almonds retain the number one spot for nut introductions in Europe. With a 47% share of global almond product introductions, the region leads globally for the eleventh year running. Europe as a whole saw a total of 5,017 new introductions with almonds – a [...]...
  • Arla Foods UK Launches New Standards Model to Bring Sustainable Change to Dairy Farming With ongoing volatility in the global milk markets, increasing consumer misunderstanding of the sector, polarised levels of support for UK dairy farmers and a new post-Brexit Agriculture Bill the challenges for dairy farmers are mounting. Farmer-owned co-operative Arla Foods has launched ‘Arla UK 360’ – a new standard in UK dairy farming. The Arla UK 360 [...]...
  • €172 Million to Promote EU Agri-food Products In and Outside the EU The European Commission will provide funding of €172.5 million from the EU agricultural budget to promote EU agri-food products in Europe and across the world. 79 campaigns, covering a wide range of products such as dairy products, olives and olive oil, and fruit and vegetables, will be rolled out over the next three years. Agriculture and [...]...

Bakkavor Expects Trading Environment to Remain Challenging

Bakkavor Expects Trading Environment to Remain Challenging
August 18
10:32 2015

Bakkavor, the fresh prepared foods group, has reported a 3% increase in revenue to £866.4 million, with like-for-like growth of 2%, for the 26 weeks ended 27 June 2015. Adjusted EBITDA (excluding exceptional) rose by 14% to £65.4 million and adjusted EBITDA margin advanced 70bps to 7.5%, underpinned by productivity investments and strict control of costs.

Strong revenue growth in the group’s international business was offset by challenging market conditions in the UK.

Bakkavor employs over 18,000 people globally and produces over 5,500 products in 18 different categories. In the UK, it is the number one producer by value in 13 of the 16 categories of chilled food it supplies to the market. Products include ready meals, pizzas, salads, desserts, soups and sauces.

Agust Gudmundsson, chief executive of Bakkavor.

Agust Gudmundsson, chief executive of Bakkavor.

Customers include some of the UK’s best known grocery retailers including Tesco, Marks & Spencer, Sainsbury’s, Waitrose, Asda and Morrisons. Bakkavor also has operations in Continental Europe, the US and Asia, supplying fresh prepared food products to both retail and foodservice customers.

Agust Gudmundsson, chief executive of Bakkavor, comments: “We expect the trading environment to continue to be challenging due to a combination of price deflation and a highly competitive grocery market. We remain focused on our core strategic objectives of close partnering with our customers and selective investment to drive growth, technical excellence and product innovation. This strategy, combined with our leading market position and improved financial strength is a strong platform and gives us confidence for the period ahead.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
  • October 31, 2018Int'l exhibition for food products and equipment (Indagra Food)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements