19th Feb 2026 14:24
(Alliance News) - Kitwave Group PLC said Thursday cited an "unfavourable revenue mix" amid low demand in the hospitality sector.
The North Shields, England-based delivery company serving the foodmarket, retail, and wholesale industries said that revenue was in line for the 12 months to October 31.
Kitwave in August announced a change for its financial year to end on December 31, compared to October 31 before.
Lower-than-expected demand in the hospitality sector has impacted its gross profit margin for the quarter, while profitability was hit by continued investment in the firm's South West depot and ongoing inflationary pressures including from rising employment costs.
Kitwave's board said its adjusted operating profit for the first quarter was "materially behind...expectations".
It added that whilst the quarter ending in January "typically only represents a small proportion of...total annual profit", margin pressures are expected to persist throughout the current financial year and as such "remains cautious on the outlook for the group for the remainder of the current financial year" ending on December 31.
Kitwave shares were down 1.4% at 292.00 pence each on Thursday afternoon in London.
By Martin Miraglia, Alliance News reporter
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