All articles by Alec Mattinson – Page 56
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News
UK food and drink exports plunge 15.9% in 2021 as trade barriers and Covid hit
UK food and drink exports have dropped by £2.7bn in the first three quarters of 2021 compared with pre-pandemic levels due to a plunge in sales into the EU.
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News
City snapshot: McBride widens loss forecast on input costs spike
Private label household goods manufacturer McBride has downgraded earnings expectations due to ’very significant’ inflationary pressures outpacing its price increases. Plus, Domino’s Pizza Group strikes new franchisee agreement and M&S agrees new green funding package.
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News
Media Bites 15 Dec: Ocado, Tesco, Inflation
Shares in Ocado rose after a legal victory in the US over patents for its robots, but poor sales took the sparkle off
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News
City snapshot: Ocado sales dented by labour shortage
Ocado sales fell back 4% in its fourth quarter as labour shortages, temporary capacity contrants and the normalisation of consumer shopping behaviour dented the online supermarket’s growth. Plus, store growth boosts Pepco’s profits and grocery sales fall back in November.
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Media Bites 13 Dec: M&S/Ocado, Boots, Plan B/Omicron
Whether M&S should buy Ocado, the sale of Boots and the effects of new governmnet Covid restrictions are all in the news
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News
City News: Investors stick with SSP Group despite Omicron wobble
The Omicron Covid variant may have wobbled travel food retailer SSP Group’s ongoing recovery, but investors remained unshaken this week by a second £400m loss and the threat of further travel disruption
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News
City snapshot: Hilton agrees €90m deal for Dutch salmon producer Foppen
Hilton Food Group is making its first foray into North America with acquisition of international smoked salmon producer Dutch Seafood Company, trading as Foppen. Plus ABF issues trading update ahead of AGM.
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Analysis and Features
Can Boots really be worth more than Asda and Morrisons? And who would buy it?
Reports have suggested the chain could be worth as much as £10bn in a spin-off by Walgreens. What’s it really worth and who might buy?
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News
City snapshot: Packaging demand boosts sales and profits at DS Smith
FTSE 100 packaging player DS Smith grew revenues and profits at a double-digit rate in the first half of its financial year driven by strong demand from the ’resilient’ fmcg sector.
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News
Media Bites 8 Dec: Strikes, Inflation, Booths
Asda has joined Tesco in facing the prospect of strike action ahead of the key Christmas trading season
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News
City snapshot: Grocery sales fall back despite mounting price inflation
Grocery sales fell by 3.8% in the last 12 week period, according to Kantar, despite inflation rising to its highest level since June 2020.
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Media Bites 6 Dec: Walgreens/Boots, Tesco, Omicron
The parent company of Boots, Britain’s biggest high street chemist, is to explore a sale of the business next year that could value it at well over £5bn
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Analysis and Features
Why Greencore lost 11% of its value when CEO Patrick Coveney announced his departure
With Greencore now back on its feet, Patrick Coveney’s move to SSP Group took the market by surprise. He’ll find plenty to do in his new role
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News
City snapshot: Black Friday fails to boost retail footfall
Total UK footfall fell by double-digits in November compared to pre-Covid levels, as the Black Friday event failed to boost in-store shopper numbers.
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News
Media Bites 3 Dec: CD&R/Morrisons, Deliveroo, Selfridges
Clayton, Dubilier & Rice has delayed plans to raise £6.6bn in debt to finance its buyout of supermarket chain Morrisons
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News
City snapshot: Agronomics sets sights on £25m funding round
The Isle of Man-headquartered company, which is listed on the London Stock Exchange, plans to raise the money via a proposed placing of shares.
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News
Media Bites 1 Dec: Inflation, Christmas Retail, Sainsbury’s
British households are facing a more expensive Christmas shop after labour shortages and surging costs pushed retail prices higher
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City snapshot: Greencore returns to profit on food to go recovery
Food to go specialist Greencore has returned to profit as revenues recovered due to the relaxation of Covid restrictions. Plus, updates from Treatt, Marston’s and all the rest of the latest news from the City.
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News
Media Bites 29 Nov: Asda/EG Group, Black Friday, Gail’s Bakery
The billionaire Issa brothers are weighing up a merger of Asda and their petrol station business EG Group, which would value the combined business at £26bn
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News
City News: Market cautious on Cranswick despite first-half sales growth
Meat giant Cranswick brushed off falling sales of its core pork products this week to post first-half sales growth thanks to category expansion, but investors remain wary of butcher shortages, capacity constraints and falling sales to China.