FDBusiness.com

Bakkavor Expects Trading Environment to Remain Challenging

 Breaking News
  • World’s Most Modern Snack Plant Begins Operations in Finland The world’s most modern dairy snack plant has commenced operation at Valio Riihimäki in Southern Finland. The snack plant is the largest single investment in Valio’s history. Construction of the new snack plant began in 2014 and took about three years. The area of the plant building is approximately 20,000 square metres. The plant is [...]...
  • FrieslandCampina Sells Fruit Juice Business The Dutch investment company Standard Investment is acquiring Riedel, the fruit juice business of FrieslandCampina, for an undisclosed sum. Based at Ede in the Netherlands, Riedel has a turnover of about €125 million and employs 200 people. Completion of the transaction is expected before the end of 2017. Earlier this year, FrieslandCampina announced that it would [...]...
  • LacPatrick is Cream of the Crop in UAE LacPatrick, the international dairy co-operative, has secured over £1 million of sales of its LP spray dried whole milk and skimmed milk powder in the United Arab Emirates (UAE), following participation at the Gulfood exhibition in February 2017. LacPatrick is one of Northern Ireland’s major manufacturing employers, employing over 300 staff across its Ballyrashane, Artigarvan [...]...
  • Tate & Lyle Launches CLARIA® Instant Functional Clean-Label Starches Tate & Lyle, a leading global provider of food ingredients and solutions, has announced a further expansion of its line of CLARIA® Functional Clean-Label Starches with the introduction of two new instant starch products: CLARIA® Instant 340 and 360. As claims such as ‘smooth’, ‘luscious’ and ‘velvet’ continue to grow, manufacturers are eager to develop textures [...]...
  • Reveal Impact – Ardagh Group to Launch a Two-Stage Thermochromic Solution Reveal Impact features combined temperature-sensitive inks with a twist. The new solution for aluminium cans uses two different thermochromic inks, which both boast the same colour when cooled down. However, once the can gets warmer again, one colour disappears quicker than the other, revealing a hidden message to the consumer. The revealed message surprises the [...]...
  • HKScan Opens New €80 Million Poultry Plant HKScan, the Nordic meat group, has just opened its new, state-of-the-art poultry unit at Rauma in Finland. Valued at over €80 million, the new facility is the largest investment in HKScan’s history. Indeed, the state-of-the-art Rauma unit ranks among the most significant investments in the history of the Finnish food industry. Jari Latvanen, president and chief [...]...

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

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements