All articles by Ed Devlin – Page 45
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NewsCity snapshot: Profits and sales jump at Reckitt as prices rise
Annual revenues at Reckitt Benckiser have increased 9.2% to £14.5bn as the Dettol to Durex owner increased prices by almost 10%. Plus, the latest BRC shop price index, and annual results from Vimto owner Nichols, Just Eat Takeaway and Glanbia
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NewsMedia Bites 28 February: Fruit & veg shortages, John Lewis, M&S, Primark, Morrisons
Ongoing fruit & veg shortages continue to make headlines, with the papers also reporting on Pippa Wicks parting ways with John Lewis and the latest ABF results
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NewsCity snapshot: ABF issues profits upgrade as inflation steadies
Associated British Foods has lifted its profit forecasts for the year as inflation becomes less volatile and commodity costs start to decline. Plus, DX group reports strong first half
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NewsFarmison pulls £2m crowdfunder as part of strategic rethink
DTC butcher Farmison has pulled a £2m crowdfunding raise as it puts the brakes on ambitious growth plans amid the challenging macroeconomic climate of squeezed consumer spending and surging costs.
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NewsMedia Bites 24 February: Fruit & veg shortages, ice cream, consumer confidence
The papers are still dominated by the fruit & veg shortages on supermarket shelves.
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NewsMedia Bites 23 February: Fruit & veg shortages, inflation, Danone
Environment secretary Therese Coffey was booed by farmers after saying UK egg shortages had not been caused by “market failure”, as the country’s biggest supermarket became the latest to ration purchases of some fruit and vegetables.
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NewsShandy Shack sells stake Jeremy Clarkson’s partner
Shandy Shack has sold a minority stake to Jeremy Clarkson’s partner Lisa Bentinck as the craft brewer seeks to deepen commercial ties with Diddly Squat Farm
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NewsCity snapshot: Price rises lift sales at Danone but margins fall on higher costs
Danone has boosted annual revenues on the back of higher prices but soaring costs squeezed the French food group’s profit margins. Plus, a pre-close trading update from Science in Sport.
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NewsPlanet Organic rethinks expansion plans as it reviews sale and financing options
CEO George Dymond told The Grocer the business is in ‘rude health’, but new funding is needed to open new stores and return to profitability
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NewsMedia Bites 21 February: NFU, fruit & veg, Aldi, Tesco
“Volatility, uncertainty and instability” are endangering UK farm businesses, according to the National Farmers’ Union, which is urging the government to support British food producers so they can keep supplying squeezed UK households and a growing global population.
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NewsCity snapshot: BrewDog enters Budweiser China joint venture to fuel Asian expansion
Craft brewer BrewDog has teamed up with Budweiser as part of a major expansion plan in China.
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NewsHavabier, Bemuse and Jump Ship turn to crowd to scale no & low brands
Three start-ups in the burgeoning no & low alcohol category have successfully raised almost £1m combined from the crowd
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NewsMedia Bites 17 February: Nestlé, Aldi, Devro, SSP Group
The papers pick up the latest annual results from the world’s biggest food group, Nestlé.
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NewsIFF agrees $220m sale of UK-based Flavour Specialty Ingredients to Exponent
IFF has agreed to offload its UK-based Flavour Specialty Ingredients (FSI) division to private equity firm Exponent in a $220m deal.
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NewsDevro receives revised £562m offer from Saria as Unite plots strike in pay dispute
The revised price will see shareholders receive 320p a share in cash, up from 316.1p, in addition to a second 10p interim dividend.
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NewsMedia Bites 16 February: Morrisons, Wilko, Mowi, Heineken, Kraft Heinz
The papers pick up a credit ratings downgrade for Morrisons, alongside job cuts at Wilko, controversy over Norwegian salmon tax and results for Heineken and Kraft Heinz
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NewsMorrisons’ credit rating slashed amid concerns over leverage
Morrisons’ credit rating has been downgraded in response to disappointing sales and profits at the private equity-owned supermarket
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NewsKraft Heinz warns of more price hikes in 2023 to combat higher costs
Kraft Heinz is the latest global consumer packaged goods group to report a strong double-digit jump in the fourth quarter of 2022 thanks to hefty price rises.
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NewsCity snapshot: UK inflation slows for third consecutive month
Inflation has eased for the third month in a row but food price rises show no sign of slowing down. Plus, Heineken reports higher-than-expected profits
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NewsCoca-Cola beats expectations as higher prices lift revenues
Coca-Cola has revealed a strong set of fourth quarter and full-year results as consumer stuck with the soft drinks giant’s range of beverages despite inflated prices.