StockMarketWire.com - Wholesale business Kitwave said adjusted operating profit was significantly ahead of the expectations following as the easing of restrictions led to stronger second-half performance.

Volumes in most business segments returning to pre-pandemic levels, resulting in 'adjusted operating profit being significantly ahead of expectations,' the company said.

Over the last few months the group has seen the first signs of inflation in its cost base, it added.

But the company said it didn't expect profitability to be adversely affected.

'Work is progressing on the group's new warehouse in Wakefield, which will ensure the Group is well placed to meet future growth expectations in its foodservice division.'

'The warehouse is expected to open in Q1 2022.'




Story provided by StockMarketWire.com