Bakkavor Group plc (LON:BAKK), the leading provider of fresh prepared food, will provide the following update on trading for the period from 30 December 2018 to date 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.