All articles by Alec Mattinson – Page 69
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NewsFarmdrop sinks further into the red despite soaring pandemic sales
Fresh produce delivery service Farmdrop lost a further £10m last year despite a spike in sales during the pandemic, leading its auditor to warn it requires significant funding to continue
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NewsCity snapshot: DS Smith sells €50m Dutch paper mill amid focus on fmcg packaging
DS Smith has announced it has agreed to sell its De Hoop paper mill in the Netherlands to De Jong Packaging for a cash sum of €50m (£43m) as it continues to shift focus to fibre-based fmcg packaging.
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NewsMedia Bites 16 July: Food strategy, Just Eat Takeaway.com, Philip Morris
Boris Johnson has poured cold water on the National Food Strategy commissioned by his own government, saying he would not support higher taxes on salt and sugar in food
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NewsCity snapshot: Just Eat Takeaway.com ups growth expectations after strong second quarter
Takeaway delivery giant Just Eat has raised its full year growth expectations after first half orders jumped 61%
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NewsCovid and poor potato crop hit trading at McCain GB
Frozen potato giant McCain saw drop in annual sales and fell to a loss last year as Covid hit its out of home sales and it suffered from a poor potato crop
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NewsMedia Bites 14 July: PepsiCo, British Land, Morrisons
PepsiCo will increase its prices this year after it raised its full-year earnings forecast on surging demand for its drinks from people flocking to restaurants and theatres
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NewsCity snapshot: Retail sales surge in June to create fastest quarterly growth on record
Retail sales strongly rebounded in June as shoppers returned to stores and grocery sales remained robust despite the reopening of pubs and restaurants
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NewsCity snapshot: Tate & Lyle to split with £1.2bn sweeteners arm sale
Tate & Lyle is to divest its sweeteners division after this morning announcing it has agreed a £1.2bn deal with private equity player KPS Capital Partners to sell a controlling stake in the business
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NewsMedia Bites 12 July: Morrisons, Philip Morris, Ocado
Morrisons has written to farmers to calm fears that a planned takeover could undermine its agreements with suppliers
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NewsEthical Butcher surges past target to hit £1.1m in crowdfunding
The wholesaler launched a £400k crowdfunding campaign on Crowdcube this week
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NewsWarburtons boosted by Covid demand and push into non-bread
Warburtons’ sales and profits soared last year thanks to a spike in demand for core bakery products in the pandemic and an ongoing push into non-bread
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NewsMFG profits improve despite £1.1bn pandemic sales decline
The pandemic cost forecourt giant Motor Fuel Group £1.1bn in sales last year, but profits nevertheless improved as its grocery convenience sales boomed
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NewsSainsbury’s shrugs off inflationary pressures to hike profits expectations
Sainsbury’s has hiked its profit expectations for the full year despite pledging action on price and mounting inflationary pressures following better-than-expected sales in the first quarter
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NewsCity snapshot: Philip Morris buys UK pharma firm to broaden beyond tobacco
Tobacco giant Philip Morris International has agreed to acquire UK-based inhaled drug delivery specialist Vectura for £852m as part of an effort to broaden its business
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NewsMedia Bites 9 July: Deliveroo, Morrisons, B&M Bargains
Fears that the reopening of pubs and restaurants would take a big bite out of Deliveroo’s takings proved wide of the mark
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NewsCity snapshot: Deliveroo ups sales forecast as second quarter orders surge past expectations
Food delivery player Deliveroo has enhanced its full year sales forecast after announcing its second quarter revenues were significantly ahead of previously announced expectations.
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NewsMedia Bites 8 July: Morrisons, Wetherspoon, HGV driver crisis
Morrisons has sought to head off political opposition to a private equity takeover of the supermarket
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NewsCity snapshot: Wetherspoon bemoans food taxes as temporary hospitality VAT cut approaches end
Wetherspoon chairman Tim Martin has criticised the ‘tax inequality’ between supermarkets and the leisure trade as the government’s temporary reduction in hospitality VAT nears an end in September.
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NewsMedia Bites 7 July: Morrisons, Sainsbury’s, Ocado
Ministers will ask to meet with Morrisons’ management to seek assurances about its future following a US takeover bid
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NewsCity snapshot: Sainsbury’s upgrades earnings on strong Q1 sales
Sainsbury’s has raised its full year profits expectations after posting growth in its first quarter despite ’exceptionally tough comparatives’.