Bakkavor Group reported a 4% revenue increase to £2.29 billion in 2024, with adjusted operating profit up 20.5% to £113.6 million. Despite overall growth, operating profit dropped to £93.4 million due to £20.2 million in exceptional costs tied to UK site closures.
The company credited its performance to volume growth across all markets and a focus on efficiency. Bakkavor aims to continue margin improvements in 2025, targeting a 6% profitability goal.
As part of a restructuring plan announced in late 2022, Bakkavor closed its Salads site in Sutton Bridge, Lincolnshire, and a Desserts facility in Leicester, affecting approximately 900 jobs. The company completed the transition in early 2023 to streamline operations.
