All articles by Ed Devlin – Page 138
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City snapshot: Nestlé misses expectations in first half
Sales at Nestlé in the first half failed to meet expectations despite the benefit of a late Easter.
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Fever-Tree shares pop 12% as posh mixer brand upgrades profits forecasts again
Shares have soared more than 12% at Fever-Tree today as UK demand for its posh mixers showed no sign of slowing, with first-half profits more than doubling.
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Refresco swallows Cott bottling business for £1bn
The deal will create the world’s largest independent bottler for retailers and brands in Europe and North America with a combined production volume of approximately 12 billion litres, Refresco said.
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Lindt held back by US woes but UK fuels growth in Europe
Lindt increased revenues by 3.1% to 1.5bn Swiss francs (£1.2bn) in the first six months of 2017 despite a stagnating chocolate market, partly thanks to “very good” results in the UK, but it cut full-year forecasts due to struggles in North America.
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Media Bites 25 July: Reckitt Benckiser, McColl's, shrinkflation, Tesco
Reckitt Benckiser’s half-year results get plenty of traction in the papers today as the Dettol maker strugglesto shake off the impact of last month’s cyber attack. Results at McColl’s are also in focus, as is an ONS report on shrinkflation.
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City snapshot: Sales fizz at Fever-Tree on UK performance
Sales have soared 77% at premium mixer brand Fever-Tree to £72m in the first half on the back of “exceptional” growth in the UK. Plus, the latest UK supermarket market share data from Kantar Worldpanel and Nielsen; Refresco to acquire Cott’s bottling operations for $1.3bn; Lindt reveals growth in stagnating chocolate market; and PZ Cussons continues to struggle in Africa as it reveals full-year results.
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Campari sells Carolans and Irish Mist for £126m
Italian spirits group Gruppo Campari has off-loaded its Carolans and Irish Mist brands to US firm Heaven Hill Brands for $165m (£126.7m).
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Cranswick sales soar on UK volume growth in Q1
The group reported that like-for-like sales, excluding contributions from the acquired Dunbia Balleymena and Crown Chicken businesses, in the three months to 30 June grew 21% compared with a year ago.
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Quorn to invest £150m in factory as exports boom
The meat substitute brand also revealed soaring global growth as its focus on exports following the takeover by Philippines-headquartered Monde Nissin in 2015 began to pay off.
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KP debuts in popcorn with vow to restore growth to Butterkist
KP Snacks CEO Mark Thorpe is confident of reigniting strong growth at Butterkist
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Unilever spreads & Dairy Crest combo 'attractive to PE'
Could a private equity-led merger of the Unilever spreads business and Dairy Crest be on the cards later this year?…
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Media Bites: Unilever, Premier Foods, Nichols, Rémy Cointreau
A solid first half as Unilever shrugged off the fallout from the rebuffed Kraft Heinz takeover bid and a poor first quarter for Premier Foods come under the media spotlight.
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City snapshot: Profits warning at Raisio as weak pound continues to hurt group
Finnish food group Raisio has issued a profits warning as a result of challenges in its UK confectionery business and the weakening of the pound against the euro. Plus, British American Tobacco appoints three Reynolds directors to its board after getting backing for its proposed $49m takeover of its tobacco rival.
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Vimto owner Nichols continues to outperform UK soft drinks market
Vimto owner Nichols has boosted revenues 12.4% to £63.5m in the first half to 30 June as the soft drinks maker continued to outperform the market in the UK.
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Hefty McCormick deal for Schwartz stuns analysts
Schwartz herbs and spices manufacturer McCormick swooped to buy the Reckitt Benckiser food division for a “staggering” $4….
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Unilever boosts long-term strategy as sales grow and margins increase faster than expected
Unilever hailed its long-term growth model this morning as first-half revenues increased 5.5% alongside a substantial step-up in profitability. The group added the preparation for the sale of the non-core spreads business was “well underway”
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Media Bites 20 July: McCormick/Reckitt Benckiser, GlaxoSmithKline/Horlicks, Hotel Chocolat, BAT/Reynolds
News of the $4.2bn McCormick acquisition of Reckitt Benckiser’s food business was the main focus of the papers on a slow day for grocery and retail news. Plus, GlaxoSmithKline unveils plans to sell its Horlicks brand in the UK.
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City snapshot: Premier Foods suffers further slump in sales
Premier Foods revealed a difficult start to the year as first quarter sales fell 3.1%, driven by changes to supermarket promotions and less demand for its products in the June heat
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Bristows and Tuckers bonbon maker fails again with 52 redundancies
The future of the Bristows and Tuckers confectionery brands hang in the balance after a failed turnaround bid sent the business under for the second time in less than a year
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Cheese Posties campaign values cheese toastie box business at £1.5m
Cheese toastie subscription box service Cheese Posties is seeking £80,000 in a crowdfunding campaign that values the start-up at more than £1.5m.