Bakkavor Group PLC Trading Statement (9523Z)
16 January 2020 - 6:00PM
UK Regulatory
TIDMBAKK
RNS Number : 9523Z
Bakkavor Group PLC
16 January 2020
16 January 2020
Bakkavor Group plc
Pre-Close Trading Statement
Bakkavor Group plc (the "Group"), the leading provider of fresh
prepared food, announces the following update for the 52 weeks
ended 28 December 2019, ahead of its full-year results announcement
on 27 February 2020.
Group revenue on a reported basis increased by 1.5% and on a
like-for-like* basis increased by 1.7% compared to the equivalent
period in 2018, with encouraging progress made across the
Group.
Whilst consumer confidence remains weak in the UK and continued
to impact underlying volume growth, revenue on a like-for-like*
basis increased by 0.2% in the UK, primarily as a result of a gain
in H2 in our meals business. The International business delivered
further volume growth resulting in a 12.8% increase in
like-for-like* revenue as we broaden our customer base in both
regions.
In the current economic environment, the Board considers this to
be a solid performance and expects full-year results to be in line
with expectations.
*Like-for-like revenue excludes associates, the impact of
acquisitions, disposals, closures and foreign exchange
translation
ENQUIRIES
Institutional investors and analysts:
Peter Gates, Chief Financial Officer
Sally Barrett-Jolley, Head of Corporate Affairs +44 (0) 20 7908
6143
Media:
Tulchan Communications +44 (0) 20 7353 4200
Will Smith
LEI number: 213800COL7AD54YU9949
DISCLAIMER - FORWARD-LOOKING STATEMENTS
This trading update, prepared by Bakkavor Group plc (the
"Company"), may contain forward-looking statements about Bakkavor
Group plc and its subsidiaries (the "Group"). Forward-looking
statements involve uncertainties because they relate to events, and
depend on circumstances, that will, or may, occur in the future. If
the assumptions on which the Group bases its forward-looking
statements change, actual results may differ from those expressed
in such statements. Forward-looking statements speak only as of the
date they are made and the Company undertakes no obligation to
update these forward-looking statements. Nothing in this statement
should be construed as a profit forecast.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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