Bakkavor bounces back from pandemic with £47m profit
Bakkavor, the UK-based fresh prepared food manufacturer, has reported a 4 per cent increase in group revenue for the first half of the business year. The company is now performing above its pre-pandemic levels.
The period up to 26 June 2021 reported revenues of £915.7m, a significant increase with the £880.5m revenue reported in H1 of 2020. Meanwhile, adjusted operating profit was £47m - an increase of 10 per cent on its pre-pandemic levels, and over 60 per cent of its 2020 figure.
Bakkavor has not only successfully outdone their pre-pandemic performance, but they have expanded their product range, with the launch of new brands, The Delicious Desserts Company and Haydens Bakery.
CEO August Gudmundsson said: “I am pleased with the overall performance in the period as like-for-like revenues exceed pre-pandemic levels and profitability improved considerably. The UK has shown a positive recovery, benefiting from a return of shopping habits to 2019 levels and a strong pipeline of innovation, as well as a meaningful pick up in operational gearing as volumes recover.”