All articles by Ed Devlin – Page 193
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News
Media Bites 28 September: Megabrew, Tesco, Sainsbury’s, Morrisons
There was much speculation in the papers this weekend that an official £70bn bid could be tabled this week by AB InBev for SABMiller. Plus, Tesco could pull the plug on the sale of Dunnhumby and Sainsbury’s gets set to report a further slide in sales for Q2.
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News
Quorn profit rockets as first bids for business are expected
Quorn has seen pre-tax profit surge almost 50% to £26m as appetite for the meat substitute continues to grow
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News
Majestic Wine appoints DIY specialist as MD
Majestic Wine has appointed a new managing director to head up the Majestic store network, The Grocer has learned
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News
Feel Free seeks £200,000 to expand gluten-free production
Food producer Feel Free is looking to capitalise on the growing trend for gluten-free with a £200,000 crowdfunding pitch
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News
Diageo volumes improve but volatile currency markets bite
Shares in drinks giant Diageo have risen as CEO Ivan Menezes reassured the market of the group’s impending recovery. The boost to the stock came despite Menezes warning operating profits would take a £150m hit because of volatile currency markets.
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City snapshot: Diageo set for £150m currency hangover
Diageo boss Ivan Menezes has warned this morning that £150m will be wiped off this year’s operating profits as a result of exchange rate movements.
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News
Media Bites 23 September: WH Smith, Kantar Worldpanel, AG Barr
Kantar Worldpanel’s most recent grocery market share figures, Irn-Bru maker AG Barr’s sales falling flat and WH Smith ended its ‘rip-off’ hospital shop prices all feature prominently in today’s papers.
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News
General Mills improves profits despite sales slip
Profits at General Mills leapt 23.6% to $426.6m in its first quarter despite overall revenues slipping slightly as the US food group improved pricing and focused on margin expansion efforts.
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Irn-Bru maker’s stock plummets as sales disappoint
Shares at AG Barr have slid 5.4% so far today to a 35-month low after disappointing sales in the first half hit by mixed British weather and price deflation in the soft drink market. Analysts trimmed their full-year forecasts for the Irn-Bru owner but expected growth to return in the long term.
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News
Morrisons adds food manufacturing heft to the board with former Arla Foods boss
Morrisons has bolstered its board with the appointment of Neil Davidson, the former CEO of Arla Foods UK
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News
Themed cakes and M&A boosts Finsbury sales
Sales at Finsbury Food Group have increased 45.8% to £256.2m thanks to major acquisitions and the success of themed cakes based on Disney films, such as Frozen, and other animated characters.
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News
Cornish Sea Salt Co secures funding to fuel exports
Cornish Sea Salt Company is targeting more international sales after securing £1.3m in funding. The natural salt manufacturer also plans to ramp up its UK production facilities to keep up with demand for its products at home and abroad.
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News
PureCircle sets sight on LSE main market as sales rise
PureCircle revealed its intention to move from the junior market of the London Stock Exchange to the main market as the ongoing war on sugar helped fuel a rise in sales at the stevia producer.
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News
'Transformational' year for Finsbury as sales soar
Finsbury Food Group has boosted its top line by 45.8% to £256.2m and like-for-like sales 6.1%
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News
Media Bites 21 September: Megabrew, living wage, Ocado
The after-affects from last week’s big deal news continued to ripple through the papers at the weekend. There was also more fallout over the living wage, with the John Lewis chairman issuing a warning of its affects.
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News
Chilled food businesses Senoble and Fresh-Pak seeking buyers
Two own-label chilled foods businesses have stuck up a for sale sign
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Analysis and Features
Conviviality: a Booker for the drinks trade?
£1.1bn merger creates on and off-trade giant but execution is key
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News
City snapshot: Moody’s downgrades Morrisons
Morrisons recent miserable run has continued as ratings agency Moody’s downgrades the supermarket’s debt following the 35% decline in pre-tax profits reported by the group last week
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News
Media Bites 16 September: Tesco, Ocado, Subway, M&S
Tesco is turning up the heat in the battle to win more customers for its challenger bank
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News
City snapshot: Sales rise at Ocado
Ocado has yet again reported double-digit revenue growth – ahead of analyst expectations – with group sales up 17.3% in its third quarter