Bakkavor Group (BAKK)

Sector:

Food

Index:

FTSE 250

156.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 156.50
  • 52 Week Low: 81.00
  • Currency: UK Pounds
  • Shares Issued: 579.43m
  • Volume: 163,922
  • Market Cap: £903.90m
  • RiskGrade: 195

Bakkavor delivers 'robust' H1 performance

By Iain Gilbert

Date: Wednesday 07 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Food manufacturer Bakkavor said on Wednesday that it had delivered a "robust" first-half performance and stated its full-year outlook was in line with current expectations.
Bakkavor said it had witnessed "strong revenue momentum", with reported revenue up 10.3% at £1.01bn and like-for-like revenues up 9.2% on a constant currency basis at £1.0bn.

However, adjusted operating profits slipped 9.5% to £42.5m as its UK operations performed broadly in line with the prior period, with revenues up 7.9% year-on-year, but the group's international performance continued to be impacted by Covid-19 restrictions and inflation. Bakkavor also stated its leverage was maintained at 1.9x within its target range.

The London-listed group reported first-half earnings per share of 4.4p, up 4.8% year-on-year, and an interim dividend per share of 2.77p, up 5% on the prior period.

Revenue momentum continued through July and August, with full-year revenue expected to be in line with the upper end of market expectations of £1.99bn to £2.08bn and the company remaining confident that it can deliver adjusted operating profits within expectations of £89.9m to £95.0m.

Chief executive Agust Gudmundsson said: "Against a backdrop of macro uncertainties and inflationary headwinds, our operational delivery has been strong and we have continued to deliver for our customers. This, once again, demonstrates the continuing resilience of the group, underpinned by the strength of our customer partnerships, supply chain management, scale and category leadership.

"We remain confident in our ability to deliver a full-year performance in line with the range of market expectations as we continue to focus on managing costs, price recovery, and driving demand in our categories. The current geo-political uncertainty, however, will result in significant levels of inflation and consumer spending headwinds persisting through 2023."

As of 1010 BST, Bakkavor shares were up 2.22% at 92.0p.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Bakkavor Group Market Data

Currency UK Pounds
Share Price 156.00p
Change Today 2.00p
% Change 1.30 %
52 Week High 156.50
52 Week Low 81.00
Volume 163,922
Shares Issued 579.43m
Market Cap £903.90m
RiskGrade 195

Bakkavor Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
52.10% above the market average52.10% above the market average52.10% above the market average52.10% above the market average52.10% above the market average
48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average
Price Trend
95.32% above the market average95.32% above the market average95.32% above the market average95.32% above the market average95.32% above the market average
93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average93.10% above the sector average
Income
67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average67.47% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Growth
9.59% below the market average9.59% below the market average9.59% below the market average9.59% below the market average9.59% below the market average
48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average48.15% above the sector average

What The Brokers Say

Strong Buy 3
Buy 2
Neutral 2
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Bakkavor Group Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 14-Sep-23
Paid 29-May-24 13-Oct-23
Amount 4.37p 2.91p

Trades for 12-Jul-2024

Time Volume / Share Price
16:35 63,637 @ 156.00p
16:35 1 @ 156.00p
16:35 388 @ 156.00p
16:35 118 @ 156.00p
16:35 3,427 @ 156.00p

Bakkavor Group Key Personnel

CEO Mike Edward
CFO Ben Waldron

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