All articles by Alec Mattinson – Page 80
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News
Contract loss and coronavirus hit profits at Branston maker Mizkan Euro
The maker of Branston pickle and Sarson’s vinegar has posted a sharp rise in pre-tax losses, amid mounting cost inputs and the loss of a private label contract.
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City snapshot: Second lockdown costs ABF £430m in lost sales
A second wave of coronavirus lockdowns has cost Associated British Foods £430m in lost sales, as Primark stores have closed across Europe. Plus, Pets at Home the latest retailer to pay back business rates relief and all the rest of the latest news from the City.
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Media Bites 4 Dec: Business rates repayments, Rates reform, Brexit
The UK’s five biggest supermarkets and the discount chain B&M will repay £1.8bn in business rates relief after intense criticism of food retailers
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City Snapshot: Sainsbury’s to hand back £440m of business rates relief
Sainsbury’s has joined Tesco and Morrisons in handing back its business rates relief, which will cost the supermarket around £440m
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Media Bites 2 Dec: Dairy inflation, Stockpiling, Shop prices
The head of the UK’s largest dairy farmers’ co-operative has warned that prices may rise sharply in the event of a “no-deal” Brexit
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City snapshot: Tate & Lyle buys US stevia producer Sweet Green Fields
Tate & Lyle has agreed a deal to acquire $50m stevia ingredients company Sweet Green Fields to take full ownership of current partner.
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City News: Compass Group and Greencore provide reasons for optimism
This year will not be looked back on with any fondness by out-of-home eating specialists
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Media Bites 30 Nov: Trading hours, Farming, Pubs/Hospitality
Shops are to be allowed to stay open for longer in the run-up to Christmas under a major relaxation of rules announced to help revive High Street stores.
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Second lockdown hitting food to go less hard, says Greencore
Greencore said sales had decreased far less dramatically since the advent of new tiered restrictions
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City snapshot: 2 Sisters owner Boparan raises £475m to bolster turnaround
2 Sisters owner Boparan has raised £475m of new corporate bonds to refinance existing debt and provide a platform to accelerate its turnaround plans. Plus all the rest of the latest news from the City.
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Media Bites 27 Nov: Black Friday, Hospitality industry, Britvic
Black Friday is expected to smash online sales records this year as struggling retailers slash prices in a desperate attempt to drum up trade
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Analysis and Features
Why is Noble selling Gü and who is lining up to buy it?
A bidding process for the pudding brand is expected to top £100m
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Media Bites 26 Nov: Spending review, Living wage, Eat Out to Help Out
The papers respond this morning to chancellor Rishi Sunak’s spending review
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City snapshot: Nestlé agrees sale of China-based peanut milk brand Yinlu
Nestlé has agreed to sell its China-based Yinlu peanut milk and canned rice porridge businesses to Food Wise Co for an undisclosed sum
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City snapshot: Greencore raises £90m as coronavirus impact drives annual loss
Greencore has raised £90m in a share placement as the impact of the coronavirus outbreak led to a double-digit drop in annual sales and a pre-tax loss of more than £10m. Plus, on the busy morning, trading updates from Cranswick, Compass Group, Pets at Home and all the rest of the latest news from the City.
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Media Bites 24 Nov: Brexit, Danone, Diageo
A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the governor of the Bank of England has warned.
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City Snapshot: Danone to cut global SKU count by up to 30%
French food group Danone is to cut its product range by up to 30% in a cost-cutting effort to return to profitable growth in 2021
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Mars blames virus outbreak for 2020 profit and sales slowdown
The coronavirus crisis exacerbated a tough 2020 for the UK arm of the company
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Media Bites 23 Nov: Gu Puds, ‘Junk Food’ Ads, Black Friday
Gu Puds, one of Britain’s best-known desserts brands, is being put up for sale by giant egg producer Noble Foods
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City Snapshot: Early Christmas shoppers boost October retail sales
Retail sales continued to rise in October despite the second wave of the coronavirus outbreak as early Christmas shoppers looked to beat renewed Covid lockdowns