Wholesale group Kitwave reported today (3) that it has enjoyed a "robust" summer, putting it on track for strong full-year results in line with expectations.
The North Shields-based owner of wholesale businesses for the independent retail sector said that it had seen strong customer demand over the four months to the end of August, a time that is traditionally its busiest of the calendar.
Kitwave stated today, "The Board is pleased to report that trading over the summer, traditionally the busiest period for the Group, has been robust. As such, the Group remains confident of delivering financial results in line with expectations for the full year ending 31 October 2024.
"As well as strong customer demand, the Group's performance also benefitted from operational investments made earlier in the year, including the installation of voice-picking technology at the Northern ambient hub, and the trade from Wilds of Oldham and Total Foodservice Solutions, our most recent acquisitions. The integration of Wilds of Oldham is now complete while the integration of Total Foodservice Solutions is proceeding as planned."
Kitwave has also confirmed that the construction work for its new 80,000 sq. ft Foodservice distribution site in the Southwest has been completed and is on track to be fully operational by the financial year end. This will enable the consolidation of three sites into one and further integrates the WestCountry and M.J. Baker businesses.
Ben Maxted, Chief Executive Officer of Kitwave, commented, "The Group continues to execute its growth objectives successfully. The combination of strong sales and the positive effects of the operational investment made earlier in the year, means we are confident of delivering results in line with market expectations for the full year.
"At the same time, the integration of our recent acquisitions has progressed as expected and the new Southwest distribution centre is on track to be fully operational by the financial year end."
Simon Hannah
