Bakkavor Group (BAKK)

Sector:

Food

Index:

FTSE 250

152.50p
   
  • Change Today:
    -1.00p
  • 52 Week High: 156.00p
  • 52 Week Low: 81.00p
  • Currency: UK Pounds
  • Shares Issued: 579.43m
  • Volume: 194,999
  • Market Cap: £883.62m
  • RiskGrade: 195

Bakkavor lifts FY profit guidance after 'strong' Q1

By Michele Maatouk

Date: Thursday 23 May 2024

LONDON (ShareCast) - (Sharecast News) - Food group Bakkavor lifted its full-year profit guidance on Thursday as it hailed a "strong" first-quarter performance.
In an update for the 13 weeks to 30 March, the company said group like-for-like revenue rose 3.2% to £543.3m, mainly driven by the UK, which saw 4.1% LFL growth to £458.4m.

Bakkavor said UK volumes strengthened through the quarter, underpinned by improving consumer confidence.

In the US, LFL sales fell 5.8% to £57.7m, in line with expectations "given the region's focus on accelerating profit improvement," the company said. In China, meanwhile, LFL sales jumped 9.8% to £27.2m, returning to more normalised levels.

Bakkavor lifted its full-year adjusted operating profit forecast to between £103m and £108m, from a previous forecast of "in excess of" of £100m.

Chief executive Mike Edwards said: "Last year we executed a dynamic plan to reset the business and I am delighted that the momentum this has created across the group has underpinned our strong Q1 performance.

"All three regions are making excellent progress against the group's strategic priorities of rebuilding margins and reducing leverage and, as a result, we are confident in delivering our increased guidance for 2024."

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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 152.50p
Change Today -1.00p
% Change -0.65 %
52 Week High 156.00p
52 Week Low 81.00p
Volume 194,999
Shares Issued 579.43m
Market Cap £883.62m
RiskGrade 195

Bakkavor Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.32% above the market average48.32% above the market average48.32% above the market average48.32% above the market average48.32% above the market average
25.93% above the sector average25.93% above the sector average25.93% above the sector average25.93% above the sector average25.93% above the sector average
Price Trend
94.84% above the market average94.84% above the market average94.84% above the market average94.84% above the market average94.84% 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
64.77% above the market average64.77% above the market average64.77% above the market average64.77% above the market average64.77% 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
9.01% below the market average9.01% below the market average9.01% below the market average9.01% below the market average9.01% 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 18-Jul-2024

Time Volume / Share Price
14:15 100,000 @ 153.50p
16:38 17,880 @ 152.50p
16:36 244 @ 152.50p
16:35 38,249 @ 152.50p
16:35 1 @ 152.50p

Bakkavor Group Key Personnel

CEO Mike Edward
CFO Ben Waldron

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