Kitwave Group PLC (AIM:KITW) shares fell 3.7% on Monday following the wholesaler’s pre-close trading update for the financial year ending October 31.
Despite being sent lower by the market, Kitwave said it expects full-year results to be in line with current market expectations, even with July’s upgrade taken into account.
The group's web-based trading platform, launched in 2022, has demonstrated solid results in terms of brand partner and customer engagement, with utilisation of the platform increasing each month and resulting in online order capture of 47% for the quarter to September 2023.
“We are particularly pleased with the excellent performance of West Country Food Holdings since its integration into the group earlier this year enabling Kitwave to now offer high-quality fresh produce across the South West,” said chief executive Paul Young.
Shares were swapping for 258.7p at the time of writing