Bakkavor Group, the leading provider of fresh prepared food, has given an update on current trading for the 19 weeks to 12 May 2018, showing like-for-like group revenue has riseb by 1.5%, which is in line with management expectations.
As outlined at Bakkavor’s 2017 results announcement in February, growth in the UK has been impacted by ongoing retail price inflation. However, the firm continues to expect revenue to benefit from improved market conditions and new business later in the year.
Growth in its International businesses remained strong, driven by the success of new products and increased consumer demand.
Bakkavor has kept a strict control on costs and this, together with the efficiency benefits from its ongoing capital investment programme, has helped mitigate continued input inflation.
The construction of four key strategic development projects in the UK, US and China is progressing as planned and these are all expected to be operational later in the year.
Overall, management expectations for the full year remain unchanged.