All articles by Ed Devlin – Page 204
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NewsQuorn snapped up in £550m deal
Quorn is the latest food brand to fall into foreign hands with a £550m sale to a branded consumer goods company based in the Philippines.
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Analysis & FeaturesSainsbury’s surprise signals substance to big four’s ‘green shoots’
The JS news sparked a frenzy of activity from analysts
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NewsCity snapshot: Sainsbury’s ups profits forecasts
Sainsbury’s has this morning raised its expectations for pre-tax profits for the year as volumes and transactions grew in the second quarter. The trading statement gave the beleaguered sector a shot in the arm with share prices for all the listed grocers soaring this morning.
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NewsMedia Bites 30 September: Morrisons, Amazon, GfK, CBI
After a quiet day for the grocery sector, the media’s focus is elsewhere but Morrisons’ plans to follow Lidl and Sainsbury’s suit to lift worker pay above living wage gets a look in.
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NewsItsu benefits from UK low-fat food revolution
Itsu has “aggressive” plans for expansion after increasing revenues more than 20% to £67.9m thanks to consumer demand for healthy food on the go.
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NewsPotts has time to turnaround Morrisons but must improve offer, says retail analyst
Morrisons still has the weakest retail offer of its competitors and will need more time and money to win back shoppers, Bernstein has said.
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NewsBrowns Food Group to increase exports with bank support
Scottish food group Browns has agreed a £20m funding package to support ongoing growth and investment as it increases sales 4.4% to £151.7m.
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NewsPiper invests £6m in natural pet food brand Forthglade
Natural pet food manufacturer Forthglade has secured £6m backing from private equity house Piper as the brand aims to become a household name.
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NewsAldi to launch online offer as annual profits slide
Profits at Aldi have fallen as the discounter invested heavily in price and stores to stay ahead of its bigger rivals and grow sales to £6.89bn
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NewsCity snapshot: Aldi reveals online plan after another record year
Aldi has revealed plans to launch an e-commerce operation in 2016 after another year of record sales.
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NewsMedia 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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NewsQuorn 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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NewsMajestic 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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NewsFeel 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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NewsDiageo 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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NewsCity 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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NewsMedia 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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NewsGeneral 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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NewsIrn-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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NewsMorrisons 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