Bakkavor Group (BAKK)

Sector:

Food

Index:

FTSE 250

146.50p
   
  • Change Today:
      1.50p
  • 52 Week High: 148.50
  • 52 Week Low: 81.00
  • Currency: UK Pounds
  • Shares Issued: 579.43m
  • Volume: 112,643
  • Market Cap: £848.86m
  • RiskGrade: 195

Bakkavor FY revenues grow on strong China trading

By Iain Gilbert

Date: Thursday 18 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Food manufacturer Bakkavor said on Thursday that full-year revenues had grown, with a strong showing in China offsetting weakness in the US.
Bakkavor said full-year revenues rose 3% to £2.20bn, principally due to higher pricing and volume recovery in China, its smallest market. Revenue rose 5.3% on a like-for-like basis.

In the UK, revenues were 3.9% higher at £1.85bn, while Chinese revenues surged 20.7% to £121.7bn. US revenues, on the other hand, fell 10.1% to £229.4m.

As a result, Bakkavor anticipates that full-year group adjusted operating profits will be at least in line with the upper end of market expectations for a print of £89.7m-£91.1m.

Chief executive Mike Edwards said: "2023 required us to develop a decisive and dynamic plan to successfully manage another year of external challenges. We executed this plan at pace and as a result, we expect to deliver improved profitability and reduced leverage for the full year.

"As we enter 2024, momentum is building in all three regions, which gives us confidence to deliver further financial improvements in the year ahead. This is clearly important as unprecedented levels of inflation have impacted profit margins over the last two years."

As of 1020 GMT, Bakkavor shares were up 2.40% at 93.79p.









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 146.50p
Change Today 1.50p
% Change 1.03 %
52 Week High 148.50
52 Week Low 81.00
Volume 112,643
Shares Issued 579.43m
Market Cap £848.86m
RiskGrade 195

Bakkavor Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.23% above the market average56.23% above the market average56.23% above the market average56.23% above the market average56.23% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Price Trend
95.47% above the market average95.47% above the market average95.47% above the market average95.47% above the market average95.47% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
71.68% above the market average71.68% above the market average71.68% above the market average71.68% above the market average71.68% 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
14.41% below the market average14.41% below the market average14.41% below the market average14.41% below the market average14.41% below the market average
40.74% above the sector average40.74% above the sector average40.74% above the sector average40.74% above the sector average40.74% 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 18-Jun-2024

Time Volume / Share Price
12:44 13 @ 147.00p
12:44 334 @ 146.50p
12:27 434 @ 146.50p
12:27 385 @ 146.50p
12:21 2 @ 146.15p

Bakkavor Group Key Personnel

CEO Mike Edward
CFO Ben Waldron

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