Bakkavor defies weak UK confidence to grow sales

Fresh food supplier Bakkavor Group has reported an uplift in sales despite a drop in underlying volume growth in the UK.

Total group revenue rose 1.7% on a like-for-like basis, according to a trading update for the 52 weeks ended 28 December 2019. Bakkavor is due to announce its full-year results on 27 February 2020.

UK like-for-like revenue increased by just 0.2%, with the business stating volume growth had been impacted by continued weakness in consumer confidence. Bakkavor said the modest increase in UK revenue had been driven primarily by its meals business.

Bakkavor has increased its presence in the UK bakery market in recent years and, last summer, acquired the Blueberry Foods cake and desserts business from Samworth Brothers. In 2018, the fresh food firm also bought Haydens Bakery from Real Good Food.

A volume increase in Bakkavor’s International business drove a 12.8% rise in like-for-like revenue as it broadened its customer base.

“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,” stated the update.

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