UK own-label firm Bakkavor has returned to profit in the third quarter of the year.
Earnings in the three month period amounted to GBP2.8m (US$4.5m) compared with a loff of GBP5.7m in the prior year. The improvement was predominantly driven by an increase of GBP4.6m in operating profit and a reduction in finance costs, the company said today (8 October).
EBTIDA amounted to GBP31m, a 6% increase on last year, while sales climbed 2% to GBP422.3m.
Capital expenditure programmes and product innovation delivered incremental sales growth, the company said.
Source:
http://www.just-food.com/news/bakkavor-returns-to-q3-profit_id121116.aspx
