All articles by Alec Mattinson – Page 52
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News
City snapshot: Nestlé warns of further price increases as inflation boosts growth
The world’s largest food group Nestlé has warned of further price increases on top of its existing 5%-plus price hikes amid a “sharp” rise in costs. Plus, THG rejects ‘numours’ offers as it posts strong growth, but losses of £130m.
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News
P&G upgrades growth forecast but higher costs weigh on earnings
The US consumer giant has hiked its full-year growth expectations after posting double-digit organic growth in the first three months of 2022, but also warned it is facing higher costs
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News
Media Bites 20 April: SSP Group, WH Smith, Asda
SSP Group was a major faller yesterday as an investment bank warned the industry could be hit by surging inflation
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News
City snapshot: Cake Box sales jump 50% on new openings and Covid rebound
Cake retailer Cake Box Holdings has posted growth of 50% in the year ending 31 March as store openings and the ending of Covid restrictions boosted sales
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Analysis & Features
What does Weetabix owner have in mind for protein drink Ufit?
Weetabix is moving beyond breakfast and into the chilled aisle
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News
Property sell off takes Asda profits past £1bn
Asda’s statutory profits topped £1bn last year, according to newly filed accounts, as the group benefited from a one-off gain of almost £400m on property sales
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News
Tesco boasts strong trading but cautious outlook spooks the City
Tesco’s annual results were a tale of contrasting narratives, with stronger than expected trading last year being overwhelmed by a cautious outlook amid soaring inflation and intensifying competition
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News
City snapshot: Virgin Media O2 exec joins Sainsbury’s board
Virgin Media O2 MD of business and wholesale Jo Bertram will join Sainsbury’s board as a non-exec director amid the departure of senior independent director Dame Susan Rice
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News
Media Bites 13 April: Imperial Brands, Deliveroo, National Lottery
US regulators have banned Imperial Brands’ myblu vaping device after a review found there was a lack of evidence they would protect public health
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News
City snapshot: Deliveroo posts double-digit first quarter growth against 2021 lockdowns
Deliveroo posted double-digit growth in its first quarter despite benefitting from Covid lockdowns last year, although spend per order fell. Plus retail growth slows in March, Parsley Box targets recovery from “tough” year and all the rest of the latest news from the City.
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News
City snapshot: Retail footfall sees gradual improvement in March
UK footfall continued to rebound in March as consumer behaviour stabilises after Covid restrictions, but shopper numbers remain well down on pre-Covid levels
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News
City snapshot: Waitrose and Deliveroo extend partnership to 70 more stores
Waitrose and Deliveroo are expanding their partnership to meet ’strong customer demand’ by adding more than 70 new Waitrose locations by the summer
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News
Weetabix swoops for protein shakes player UFit
Weetabix has boosted its presence in the dairy drinks category with the acquisition of RTD protein shakes player UFit
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News
Media Bites 6 April: Labour shortages, Petrol, Morrisons/supermarkets
The UK food industry may shrink permanently if ministers fail to address labour shortages from Brexit and coronavirus
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News
Tomato producer Sterling Suffolk rescued from administration
The company brought in administrators on 29 March after a downturn in trading and soaring energy prices forced it into administration
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News
Morrisons warns on impact of inflation and ‘geopolitical environment’
Private equity owned Morrisons has warned its profits will come under pressure from mounting inflation and the situation in Ukraine.
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News
Upfield UK bounces back into profit but warns on plant oil prices
The UK arm of Flora owner Upfield bounced back into profit in its first year of separation from former owner Unilever, but warned over the impact of soaring plant oil prices
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News
Kerry Group suspends operations in Russia and Belarus
Irish nutrition company Kerry Group has suspended its operations in Russia and Belarus following Russia’s invasion of Ukraine
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News
Media Bites 4 April: Boots, Lottery, M&S/Ocado
The American owner of Boots has offered to retain a stake of up to 30% in the pharmacy chain to smooth the path towards a £7bn sale
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News
IPN revenues hit £120m following CapVest deal
Inspired Pet Nutrition, the UK’s largest manufacturer of dry petfood, saw further double-digit growth last year as it was snapped up by the private equity player