Bakkavor posts robust half year results

The leading provider of fresh prepared food, Bakkavor Group plc has reported a positive first half trading across the business, for the 26-week period ended 30 June 2018.

Group revenue increased to £910.4m, up 2.8% on a like-for-like basis, and international growth accelerated, with revenue up 15.4% on a like-for-like basis.

For the period, the company showed adjusted EBITDA increased by 1.2% to £78.6m.

CEO Agust Gudmundsson (pictured) said, 'We have delivered a positive performance in the first half as we continue to focus on the drivers of long term sustainable growth: leveraging our number one position in the UK fresh prepared food market, accelerating growth in high potential international markets and further improving our operational efficiency.

'Looking ahead, we continue to remain cautious and anticipate little change in underlying economic and market trends. In particular, input price volatility continues which may in turn impact consumer demand going forward.

'Despite these pressures, our scale, passion for food and close partnerships with our customers leave us well placed and our expectations for the full year remain unchanged.'