Bakkavor Group (BAKK)

Sector:

Food

Index:

FTSE 250

154.00p
   
  • Change Today:
      1.50p
  • 52 Week High: 156.00p
  • 52 Week Low: 81.00p
  • Currency: UK Pounds
  • Shares Issued: 579.43m
  • Volume: 84,110
  • Market Cap: £892.32m
  • RiskGrade: 195

Bakkavor trading in line; UK performance solid, China weak

By Michele Maatouk

Date: Thursday 19 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Food provider Bakkavor hailed a solid full-year performance on Thursday, in line with expectations, as it posted record revenues.
In an update on trading for the 53 weeks to the end of December, the company said group reported revenue exceeded £2bn for the first time, up 14.3% on the previous year, with like-for-like revenue ahead 10.6%. This was driven primarily by price in the UK, along with strong volume growth in the US, while volumes in China were affected by Covid.

FY22 adjusted operating profit remains in line with market expectations of £88.6m. "Whilst we have been successful in largely mitigating inflation through pricing and internal levers, there has been some impact on profits, which are down year-on-year," Bakkavor said.

"This reflects a solid performance in the UK; market share gains underpinned by high service levels and breadth of product portfolio, and Christmas trading in line with expectations and well-executed operationally."

Bakkavor said its performance in the US was hit by disruption from taking on board volume growth and, as reported in its third-quarter update, a contractual dispute with a customer at one site since November.

Chief executive Mike Edwards said: "Despite 2022 being another challenging year, Bakkavor delivered a robust performance and once again demonstrated the strength of our customer relationships and the resilient foundations of our business.

"Whilst market challenges will persist in 2023, the actions we are taking to protect profits, our clear strategy and our balance sheet strength, allow us to move forward with purpose and confidence, enabling us to deliver on our medium- to long-term ambitions."

Email this article to a friend

or share it with one of these popular networks:


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 154.00p
Change Today 1.50p
% Change 0.98 %
52 Week High 156.00p
52 Week Low 81.00p
Volume 84,110
Shares Issued 579.43m
Market Cap £892.32m
RiskGrade 195

Bakkavor Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.22% above the market average46.22% above the market average46.22% above the market average46.22% above the market average46.22% above the market average
18.52% above the sector average18.52% above the sector average18.52% above the sector average18.52% above the sector average18.52% above the sector average
Price Trend
94.96% above the market average94.96% above the market average94.96% above the market average94.96% above the market average94.96% 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
63.45% above the market average63.45% above the market average63.45% above the market average63.45% above the market average63.45% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
8.86% below the market average8.86% below the market average8.86% below the market average8.86% below the market average8.86% 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 19-Jul-2024

Time Volume / Share Price
16:35 3 @ 154.00p
16:35 47,161 @ 154.00p
16:35 221 @ 154.00p
16:35 630 @ 154.00p
16:35 296 @ 154.00p

Bakkavor Group Key Personnel

CEO Mike Edward
CFO Ben Waldron

Top of Page