FDBusiness.com

Historic Year For Bakkavor

 Breaking News
  • Agrial Continues Strategic Expansion With German Dairy Acquisition Agrial, the French farming and food co-operative, is continuing its quest to create value for its dairy farmer members by acquiring German company Rotkappchen Peter Julich Group, a specialist in cow’s and goat’s milk cheeses. The acquisition of Rotkappchen Peter Julich Group, which owns three famous brands in Germany, furthers the growth strategy of Eurial, [...]...
  • €191 Million to Promote EU Agri-food Products at Home and Abroad The European Commission has adopted the 2019 promotion policy work programme, with €191.6million to be made available for programmes selected for EU co-financing – an increase of €12.5 million compared with 2018. €89 million will be allocated to campaigns in high growth countries such as Canada, China, Colombia, Japan, Korea, Mexico, and the United States. Some [...]...
  • Müller Removes Sugar With New Yogurt Culture Müller Corner, one of Britain’s best loved yogurt ranges, is set to reduce sugar by up to 9% and gain a creamier texture, thanks to the discovery of a new yogurt culture. Following a rigorous research and development process which involved access to more than 13,000 strains, Müller discovered that the combination of two specific yogurt [...]...
  • Mintel Launches Purchase Intelligence in the UK Mintel, the world’s leading market intelligence agency, has launched Mintel Purchase Intelligence, the newest innovation in product comparison technology, providing rapid, reliable consumer opinion on every reported new food and drink product in the UK*. Every day, Mintel benchmarks consumer reactions to new product launches so manufacturers, companies and brands can immediately understand and analyse what is [...]...
  • Discovery, Plant-Based and Alternatives Lead the Top Ten Trends For 2019 Targeting increasingly adventurous consumers, set on new discoveries and experiences, will be key to developments in the food and beverage industry in 2019. The connected world has led consumers of all ages to become more knowledgeable of other cultures, contributing to 35 percent growth of “discovery” claims, when comparing 2017 and 2016 new product launch [...]...

Historic Year For Bakkavor

Historic Year For Bakkavor
March 07
14:19 2018

Bakkavor Group, the UK’s leading provider of fresh prepared food, has posted a 13.2% rise in adjusted profit before tax to £84.8 million on like-for-like revenue up 5.4% to £1.800 billion for the 52 week period ended 30 December 2017. Adjusted EBITDA rose 4.2% to £152.6 million with a margin of 8.4% – up from 8.3% in 2016.

On a statutory basis group revenue increased by 4.6% to £1.815 billion but profit before tax was £24.1 million lower at £39.0 million, largely due to a public listing and refinancing costs. During 2017, Bakkavor successful listed on the London Stock Exchange, providing capital to accelerate strategic investments, and fully refinanced it lending facilities, including redemption of senior secured notes.

Agust Gudmundsson, chief executive of Bakkavor.

The fresh prepared food specialist has embarked upon a significant capital investment programme to support ongoing growth across the group, and has started construction on four key projects in the UK, the US and China. In 2017, Bakkavor further developed its businesses in the US and China through stronger customer partnerships.

Agust Gudmundsson, chief executive of Bakkavor, comments: “This has been an historic year for Bakkavor. We have transformed the group, fully refinancing our lending facilities and listing on the London Stock Exchange, positioning us well for future growth. Our strong trading performance, in a highly inflationary environment, reflects both our market-leading expertise in great tasting food and the strong strategic partnerships with our customers.

“The second half of 2017 saw volume growth impacted as UK consumers reacted to significant inflationary pressure. As expected this trend has continued into 2018 and is likely to remain until inflation eases. Later in the year, we expect our volume growth to benefit from improved market conditions and new business.”

He adds: “Despite these industry-wide challenges, we are confident that our scale, track record of innovation and focus on operational efficiencies ensures we are well placed to deliver ongoing profitable growth, both from existing business and our long-term investment strategy.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 21, 2018expoSE European Asparagus and Strawberry Fair
  • November 27, 2018Health Ingredients Europe
  • November 28, 2018FOOD & LIFE
  • December 3, 2018P&P 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements