An announcement from Bakkavor Group plc ( (GB:BAKK) ) is now available.
Bakkavor Group plc has reported strong financial results for 2024, with a 4% increase in reported revenue to £2,292.7 million and a 20.5% rise in adjusted operating profit to £113.6 million, surpassing market expectations. The company has improved its profit margins through strategic efficiency measures and has strengthened its balance sheet by reducing net debt by £35.8 million. Bakkavor’s strategic focus on operational excellence and market leadership has driven growth across its UK and international markets, with significant progress in the US and China. The company remains confident in achieving its medium-term target of a 6% adjusted operating profit margin by 2027.
More about Bakkavor Group plc
Bakkavor Group plc is a leading provider of fresh prepared food in the UK, with a significant presence in the US and China. The company leverages consumer insights and scale to offer innovative food products, including meals, pizza & bread, salads, and desserts, to major grocery retailers in the UK and US, as well as international food brands in China.
YTD Price Performance: 3.08%
Average Trading Volume: 188,054
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £872M
See more insights into BAKK stock on TipRanks’ Stock Analysis page.