All articles by Ed Devlin – Page 203
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NewsCity snapshot: Asda profits hold up as it escape huge property writedowns
Asda pushed operating profits up 1.9% to £1.01bn last year as it escaped eye-watering property writedowns
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NewsMedia Bites 9 October: SABMiller, AB InBev, Tesco, Asda, Coca-Cola
The ongoing tango between SABMiller and AB InBev and the fallout from Tesco’s first-half results continues to dominate the papers
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Analysis & FeaturesAsda profits escape property writedown carnage
Asda has pushed profits past £1bn as it managed to avoid the massive one-off costs on writedowns that have blighted rivals
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NewsAsda profits hit £1bn despite shrinking sales
Asda has pushed profits past the £1bn mark - despite sales falling 0.4% to £23.2bn and market share dipping - thanks to its low-cost operating model.
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NewsDiageo and Heineken swap emerging markets assets in $780m deal
Diageo has agreed a $780.5m (£515m) three-part deal with Heineken to swap assets in emerging markets.
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NewsSABMiller rejects new £68bn takeover bid from AB InBev
The SABMiller board still has to formally consider the new offer made by AB InBev but indicated in a statement to the City on Wednesday morning (7 October) it was not minded to accept it.
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NewsCity snapshot: Tesco volumes up as like-for-like sales decline slows
Tesco has reported that volumes and transactions have grown during its first-half helping to slow the decline of like-for-like sales in the UK but its profits have halved. Alsp, AB InBev has tabled a £68.2bn improved offer for SABMiller; Diageo and Heineken have agreed disposals worth £515m in Jamaica, Malaysia, Singapore and Ghana; and Conviviality has completed its £200m reverse takeover of Matthew Clark.
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NewsAston Manor sales lose fizz as UK cider market declines
A declining UK cider market has taken the fizz out of sales at Frosty Jack manufacturer Aston Manor, but MD Gordon Johncox said the company was better placed than any other cider maker to continue to grow and develop the category.
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NewsCity snapshot: SABMiller highlights its strengths as it awaits AB InBev bid
Takeover target SABMiller has talked up its strengths as a global brewer and highlighted its “exceptional long-term prospects” in a trading update this morning. Plus Greggs shares climb again after third quarter sales growth.
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NewsMedia Bites 6 October: Ocado, Nestlé, 5p charge
Oocado goes on hiring spree ahead of Xmas; Nestlé and R&R are set to join forces to create an ice-cream giant; and supermarkets brace themselves for a flood of basket thefts as the 5p carrier bag charge comes into effect.
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NewsCallan Bacon owner expands UK presence with Stirchley Bacon deal
Irish pork processor M&M Walshe has acquired wholesale supplier Stirchley Bacon in a cross-border transaction creating a €120m (£88.7m) group.
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NewsWestons grabs more market share as sales and profits rise
Sales at Westons Cider have hit record levels as the group behind the Stowford Press, Henry Westons and Old Rosie brands grabbed more UK market share.
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NewsNestlé and R&R to merge ice cream businesses
Nestlé is in advanced talks to join forces with European ice-cream company R&R to create a frozen giant employing more than 10,000 staff and operating in 20-plus countries across the world.
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NewsTesco expected to reveal more profit downgrades
Profits at Tesco are predicted to have slumped by more than £500m in the first half, more profit downgrades expected by analysts.
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NewsMedia Bites 5 October: Tesco, AB InBev, Morrisons, Sainsbury's
A busy weekend for retail as the papers focus on the much-anticipated first-half results for Tesco, with Morrisons and Sainsbury’s also getting a look in, as well as the awaited takeover bid from AB InBev for SABMiller.
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NewsConviviality signs £4.3m fintech contract as Matthew Clark takeover completes
Conviviality Retail has signed a new contract with financial technology business Universe to provide point-of-sale, payment and encryption services. It comes as Conviviality’s £200m reverse takeover of wine and spirits supplier Matthew Clark cleared its final hurdle yesterday.
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NewsFor Aisha halal babyfood targets growth following rescue
Halal babyfood brand For Aisha is looking to expand across the UK and internationally
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NewsQuorn to stick with US as growth priority
Quorn will remain focused on rapid expansion in the US
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NewsChaucer secures backing from Caird to expand US business
Ingredients group’s journey in the US boosted by private equity backing from Caird Capital
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NewsKapak Foods rescue deal saves 150 jobs
Food packing specialist Kapak Foods has been rescued from administration with the backing of a private equity firm, saving 150 jobs.