Bakkavor Group PLC Trading Statement (9087Z)
May 23 2019 - 2:00AM
UK Regulatory
TIDMBAKK
RNS Number : 9087Z
Bakkavor Group PLC
23 May 2019
23 May 2019
Bakkavor Group plc
Trading Update
Bakkavor Group plc ("Bakkavor" or "the Group"), the leading
provider of fresh prepared food, will provide the following update
on trading for the period from 30 December 2018 to date ("the
period") at its Annual General Meeting today.
As we outlined at the 2018 full year results presentation,
subdued consumer confidence and inflationary pressures continued
into 2019. Trading since the year end has been in line with
management expectations and our guidance for the full year remains
unchanged, with Group performance broadly in line with 2018.
We continue to invest for the long-term and have further
strengthened our position in the important desserts category
through the recently announced acquisition of Blueberry Foods. In
addition, as we maintain our focus on protecting margins, at the
end of April we completed the closure of Freshcook, a loss-making
site in the UK. Elsewhere across the Group, we continue to seek
further opportunities to increase operating efficiencies and
optimise capacity.
Demand is strong in our International markets; we are excited by
the opportunities and continue to structure our businesses in the
US and China for long-term growth.
Despite current UK market challenges, we remain confident that
our strategy, combined with our scale and expertise, leaves us well
placed to capitalise on future growth opportunities.
ENQUIRIES
Institutional investors and analysts:
Peter Gates, Chief Financial Officer
Sally Barrett-Jolley, Head of Corporate Affairs +44 (0) 20 7908
6143
Media:
Tulchan Communications +44 (0) 20 7353 4200
Catherine James, Will Smith, Jessica Reid
LEI number: 213800COL7AD54YU9949
DISCLAIMER - FORWARD-LOOKING STATEMENTS
This trading update, prepared by Bakkavor Group plc (the
"Company"), may contain forward-looking statements about Bakkavor
Group plc and its subsidiaries (the "Group"). Forward-looking
statements involve uncertainties because they relate to events, and
depend on circumstances, that will, or may, occur in the future. If
the assumptions on which the Group bases its forward-looking
statements change, actual results may differ from those expressed
in such statements. Forward-looking statements speak only as of the
date they are made and the Company undertakes no obligation to
update these forward-looking statements. Nothing in this statement
should be construed as a profit forecast.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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