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Bakkavor Group plc ( (GB:BAKK) ) just unveiled an update.
Bakkavor Group plc reported strong financial results for 2024, surpassing market expectations with a 4.0% increase in reported revenue to £2,292.7 million and a 20.5% rise in adjusted operating profit to £113.6 million. The company achieved significant margin improvements through strategic initiatives across its UK and international markets, including efficiency enhancements and business restructuring. Despite challenges such as the closure of a UK site, Bakkavor strengthened its balance sheet by reducing net debt and improving leverage, while also increasing its return on invested capital. The company remains confident in its strategic trajectory, aiming for 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 specializes in offering innovative food products that emphasize quality, choice, convenience, and freshness, serving major grocery retailers and international food brands.
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.