REG - Kitwave Group PLC - Trading Update

KitwaveAnnouncement

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RNS Number : 5785T  Kitwave Group PLC  19 February 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

FOR IMMEDIATE RELEASE

 

 

19 February 2026

Kitwave Group plc

 

("Kitwave", the "Group" or the "Company")

Trading Update

 

Kitwave Group plc (AIM: KITW), the delivered wholesale business, today
announces a trading update for the three-month period ended 31 January 2026
(the "Period"). The Group announced its unaudited interim results for the
12-month period ended 31 October 2025 ("12M 2025") on 22 January 2026, the
below trading update therefore covers the three-month trading period post 12M
2025. The trading performance reported in this statement is based on
information in the Group's unaudited management accounts.

 

Group revenue during the Period was in line with the same three-month period
in 12M 2025. However, lower-than-expected demand in the hospitality sector
resulted in an unfavourable revenue mix that has negatively impacted gross
profit margin for the Period. Profitability has also been negatively affected
by continued investment in the Group's South West depot and ongoing overhead
inflationary pressures, including increases in NIC and the National Minimum
Wage. The Group's adjusted operating profit during the Period was materially
behind the Board's expectations.

 

Whilst the three-month trading period to end of January typically only
represents a small proportion of the Group's total annual profit, the Board
expects margin pressure to persist throughout the remainder of the current
financial year ending 31 December 2026.

 

The Board remains cautious on the outlook of the Group for the remainder of
the financial year.

 

- Ends-

 

For further information, please contact:

 Kitwave Group plc                                                Tel: +44 (0) 191 259 2277

 Ben Maxted, Chief Executive Officer

 David Brind, Chief Financial Officer

 www.kitwave.co.uk (http://www.kitwave.co.uk/)
 Canaccord Genuity Limited                                        Tel: +44 (0) 20 7523 8150

(Nominated Adviser and Sole Broker)

 Harry Rees

 Bobbie Hilliam

 Elizabeth Halley-Stott
 Yellow Jersey PR                                                 Tel: +44 (0) 20 3004 9512

(Financial media and PR)

 Charles Goodwin

 Shivantha Thambirajah

 Bessie Elliot

 kitwave@yellowjerseypr.com (mailto:kitwave@yellowjerseypr.com)

The information contained within this announcement is deemed to constitute
inside information as stipulated under Article 7 of the Market Abuse
Regulation(EU) No.596/2014 as incorporated into UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("UK MAR"). Upon the publication of
this announcement via a regulatory information service, this inside
information is now considered to be in the public domain.  The person
responsible for arranging for the release of this information on behalf of the
Company is David Brind, Chief Financial Officer.

 

Company Overview

Founded in 1987, following the acquisition of a single-site confectionery
wholesale business based in North Shields, United Kingdom, Kitwave is a
delivered wholesale business, specialising in selling and delivering impulse
products, frozen, chilled and fresh foods, alcohol, groceries and tobacco to
approximately 46,000, mainly independent, customers.

 

With a network of 37 depots, Kitwave is able to support delivery throughout
the UK to a diverse customer base, which includes independent convenience
retailers, leisure outlets, vending machine operators, foodservice providers
and other wholesalers, as well as leading national retailers.

 

The Group's growth to date has been achieved both organically and through a
strategy of acquiring smaller, predominantly family-owned, complementary
businesses in the fragmented UK grocery and foodservice wholesale market.

 

Kitwave Group plc (AIM: KITW) was admitted to trading on AIM of the London
Stock Exchange on 24 May 2021.

 

For further information, please visit: www.kitwave.co.uk
(http://www.kitwave.co.uk) .

 

 

 

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