'Good first half' report for wholesaler Kitwave

WHOLESALE group Kitwave says it is on track to meet expectations despite weak demand from the hospitality industry one of its key markets.

- TOM KEIGHLEY Business reporter [e-mail]

The £600m turnover, Tyneside-based business said its foodservice division which supplies everything from bakery to dairy goods had been impacted in the late part of 2024.

Trading in the division has since improved in the later part of the half year to the end of April, before Easter. Meanwhile revenue was said to be robust across Kitwave's retail and wholesale operations - which supply sweets, alcohol and cigarettes, among other items, for convenience shops and vending operators.

Analysts expect the group to book sales of £843.8m this year with Ebitda of £61.6m up from sales of £663.7m and Ebitda of £45.2m last year.