FDBusiness.com

Historic Year For Bakkavor

 Breaking News
  • Mars Wrigley Confectionery Names New Global President Mars, Incorporated has appointed Andrew Clarke, currently Chief Marketing & Customer Officer, to the role of Global President ‐ Mars Wrigley Confectionery. Andrew Clarke will assume his new role in September. He will be based at Mars Wrigley Confectionery’s global headquarters in Chicago, Illinois. Andrew Clarke. Since 2015 Andrew Clarke has been Chief Marketing & Customer Officer. [...]...
  • More Milk Needed to Cover Demand in 2030 – New Technologies Will Help Between now and 2030 worldwide demand growth for milk and milk products will be three times the level of current US milk production. This was one of the main findings of the latest publication, from the IFCN – the Dairy Research Network – discussed at the 19th IFCN Dairy Conference, held at Teagasc, Moorepark, Cork [...]...
  • Danone Early Life Nutrition Launches Category Overhaul Danone Early Life Nutrition is launching a category refresh that spans its leading baby food brands, Cow & Gate and Aptamil. Cow & Gate is launching fifteen new food recipes across the pouch, cereal, jar and tray product ranges, as well as a complete packaging re-brand across its entire formula milk and food portfolio. Starting from mid-June, [...]...
  • Speed Up Poultry Processing – 15,000 bph With Meyn Rising consumer demand for high-protein food and changing customer preferences have spurred the global market for poultry meat. In response to this growing demand, the market has been forced to increase production volumes. This results in longer production days and increased line speeds. Especially greenfield projects, but also existing plants demand the highest possible processing [...]...
  • Mondelēz International Invests $200 Million in Czech Biscuit Plant to Accelerate Growth in Europe Mondelēz International has invested $200 million since 2014 in its Czech Republic-based Opava biscuit manufacturing facility, which employs nearly 1,000 people and produces Power Brands like Oreo, belVita, Milka and Cadbury, for the European market. The investment builds on Opava’s proud heritage of more than a century as a biscuit-making centre and supports the company’s [...]...

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

  • June 17, 2018The Excellence of Italian Food and Wine (Bellavita Expo)
  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements