All articles by Alec Mattinson – Page 86
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NewsC&C Group falls to first half loss amid pub closures
Beer, cider and wine producer and distributer C&C Group fell to a first half operating loss amid a 55% plunge in revenues as the lockdown and shuttering of pubs hit trading
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Comment & OpinionNestlé’s third-quarter success shows the benefits of size in the Covid era
The higher-than-expected sales rise suggests the coronavirus crisis is playing into the hands of the global consumer giants
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NewsCity snapshot: Petfood sales spike boosts Nestlé’s third quarter growth
Nestlé has posted third quarter organic growth of 4.9%, driven by strong demand for petfood as well as at-home coffee consumption and dairy. Plus, pub closures send C&C Group to first half loss, PayPoint sells Romanian business and all the rest of the latest news from the City.
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NewsMedia Bites 20 Oct: Asda, Danone, Card payments
Asda is to unveil a strategy to help cut down on single-use plastics, pledging that “greener” products without packaging will not carry a hefty price tag
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NewsCity snapshot: Danone launches full portfolio review to plan for new COVID-world
French dairy giant Danone has this morning announced its intention to conduct a full portfolio review and put assets worth €500m up for immediate sale to tailor its business for a post-coronavirus market.
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NewsCity snapshot: John Lewis pledges to move ‘beyond retail’ to boost profits
John Lewis Partnership is to launch a host of new services to move the group “beyond retail” as it seeks to reach £400m profit within five years
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NewsMedia Bites 16 Oct: EG Group, John Lewis, Boots
EG Group’s bonds dropped in value on Thursday after reports that the auditor of the highly acquisitive UK petrol station operator had resigned over governance concerns.
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NewsCity snapshot: Marston’s to cut up to 2,150 jobs amid new coronavirus restrictions
Pub and brewing company Marston’s is to cut 2,150 roles after the coronavirus lockdown and ongoing restrictions have had a “material” impact on its trading. Plus, new chairman at BAT, Domino’s Pizza sees sales uplift, Distil benefits from drinking at home and all the rest of the latest news from the City.
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NewsBoparan rescues burger chain GBK from administration
2 Sisters owner Boparan has continued its push into casual dining, with the rescue of the GBK burger brand from administration
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NewsMedia Bites 14 Oct: Grocery market share, Amazon, Tesco
Alcohol sales at supermarkets soared in recent weeks after the Government imposed a 10pm curfew on pubs and bars
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NewsMedia Bites 13 Oct: Unilever, Retail sales, Hospitality
Unilever’s UK shareholders have voted overwhelmingly in favour of plans to move the Marmite owner’s legal base to London
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NewsCity snapshot: Cake Box revenues recover after store reopenings
Cake Box has posted a strong recovery in trading following the lockdown enforced closure of its store estate, with like for like sales up by double digit excluding the closures.
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NewsMedia Bites 12 Oct: Asda, Unilever, Pork and poultry
Zuber and Mohsin Issa The new owners of Asda have set up an offshore bid vehicle that means the supermarket will be legally owned in Jersey. (The Times £) Two billionaire brothers from Blackburn have been made CBEs a week after clinching a £6.8bn deal to buy ...
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NewsTesco’s smooth transition to Ken Murphy wins analyst approval
Ken Murphy on Wednesday revealed that sales soared 6.6% in Tesco’s first half to £26.7bn
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NewsPoundland readies major push into fresh and frozen food with Fultons acquisition
Poundland has been working with Fultons for the past 12 months to grow its food range
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NewsSupermarket price inflation at zero after year of increases
Supermarket inflation fell back to zero in September, bringing an end to a year of rising grocery prices.
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NewsCity snapshot: CMA clears brewing merger between Marston’s and Carlsberg
The UK competition regulator has cleared the £780m merger of Marston’s and Carlsberg’s UK brewing operations. Plus UK GDP growth slows to 2.1% in August and all the rest of the latest news in the City.
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NewsMedia Bites 9 Oct: Food standards, Tobacco, Tim Hortons
The UK government is set to reject legal measures to uphold food standards in future trade deals
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NewsCity snapshot: Imperial Brands sees consumers turn to tobacco during Covid crisis
Imperial Tobacco said it has seen stronger than expected tobacco sales volumes during the coronavirus crisis as consumers in Europe and the US have shifted spend to tobacco products.
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NewsInsect protein startup raises $372m to fund world’s largest insect farm
The new capital will fund completion of an insect farm in Amiens, France in early 2022