Wholesaler Kitwave Group says its 2023 results are set to be ahead of expectations, having enjoyed strong trading through the first half of the year.
The Tyneside-based firm, which specialises in supplying more than 42,000 independent retailers through 29 UK depots, told investors that seasonal trading means the second half of the year is often stronger and it now anticipates full year results to be "slightly" ahead of market expectations. Kitwave acknowledged headwinds, including inflation, but said that it was well-placed to counter them.
The group's £29.7m acquisition of Falmouth-based Westcountry Food Holdings Limited was said to have been successful, and performing to management expectations. The December move was intended to move Kitwave into the South West market, giving it access to depots in St Austell and Newton Abbot.
