All articles by Ed Devlin – Page 5
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NewsCity snapshot: Virgin Wines collaborates with Ocado Retail
Starting this week, Ocado customers have access to an exclusive selection of 50 wines from the Virgin Wines portfolio, “carefully curated” by the buying teams from both businesses
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NewsTesco shares race higher on profits upgrade and healthy dividends
Tesco increased group revenues 3.5% to £31.5bn in the 26 weeks ended 24 August
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NewsCity snapshot: Tesco raises profit expectations on strong first half
Tesco has upgraded profit forecasts for the year after boosting volumes by more than expected in the first half. Plus, a Q4 trading update from SSP Group
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NewsCity snapshot: Record sales as Shepherd Neame shifts focus away from off-trade
Britain’s oldest brewer Shepherd Neame has posted record revenues and a “good” uplift in profit as it pivoted away from the off-trade to focus on its pubs.
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NewsCity snapshot: Greggs like-for-like growth slows in Q3
Greggs has indicated an easing of cost inflation as it made “further good progress” in the third quarter. Plus, the BRC reports an increase in food inflation in September, and Pfizer sells down its stake in Haleon
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NewsCapVest-owned Natra acquires Belgian luxury chocolatier Gudrun
CapVest-owned chocolate maker Natra has swooped to acquire Belgian luxury chocolatier Gudrun to create a global confectionery platform
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NewsFentimans sinks into the red as sales lose fizz
The group swung from a £610k profit to pre-tax losses of £656k in the year ended 31 December 2023 as revenues sank 7.6% to £39m
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NewsCity snapshot: Applied Nutrition fires starting gun on London IPO
Sports supplements group Applied Nutrition has revealed plans to float on the London Stock Exchange in an IPO that is expected to value the Liverpool-based company at £500m. Plus, pre-tax losses at Gusbourne have widened in the first half as saled came in below expectations
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NewsCity snapshot: Cranswick upgrades profit expectations on robust volume growth
Cranswick has raised its profit forecasts for the year after stronger-than-expected trading in the first half. Plus, Microsalt reports maiden interim results
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NewsAG Barr shares lose fizz despite Irn-Bru and Rubicon owner outperforming soft drinks market
AG Barr shares lost ground this week despite the Irn-Bru supplier reporting a strong set of first-half results in a challenging soft drinks market
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NewsRheal hires advisors as it explores sale and expansion options
Rheal has hired M&A advisors to explore a sale of the rapidly growing superfoods brand as it looks to expand the business further into the grocery channel and international markets
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NewsCity snapshot: Morrisons agrees £331m property deal on 76 supermarkets
Morrisons has signed a £331m deal to release value from its portfolio of stores as the supermarket continues with a turnaround attempt under new CEO Rami Baitieh. Plus, Asda launches new sustainability-linked enhancement to its supply chain finance scheme, trading updates from Poundland owner Pepco and Diageo, and interims from Adnams
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NewsCity snapshot: Co-op turnaround strategy gains momentum in first half
Co-op has returned to the black as it boosted food sales and grew membership numbers by almost a million year on year. Plus, Kitwave has acquired family-owned food wholesaler Creed Catering Supplies in a £70m deal
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NewsQuorn parent Marlow Foods restructures as losses race past £60m amid plant-based slump
Losses have raced to more than £60m at Marlow Foods as the owner of Quorn and Cauldron continued to restructure the business amid a further deterioration in the meat alternatives market
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NewsCity snapshot: AG Barr scores good result from Euros Irn-Bru campaign
Sales at AG Barr have increased by more than £10m in the first half after a “highly effective” marketing campaign during the Euros football tournament in the summer boosted the popularity of Irn-Bru. Plus, Cake Box has revealed a collaboration with Nutella to launch a lineup of five new products for the UK market
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NewsFermtech hits crowdfunding target to scale up production of fermented protein source
Fermtech makes clean-label protein by growing fungi from food waste, using spent grains from a local brewery in a patent-pending system
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NewsDistil secures emergency funding to get through Christmas trading period
A placing at a steep 40% discount to last week’s share price is set to raise £430k, while the company has secured a further £220k from existing shareholders
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NewsCity snapshot: Disposable incomes to rise ahead of Christmas period
UK households have weathered the worst of the cost-of-living crisis and can now expect to see their disposable income continue to rise this year, according to new figures from Asda’s Income Tracker. Plus, Distil secures funding and Eagle Eye wins a new contract
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NewsCity snapshot: Gloomy outlook from Labour knocks consumer confidence
Consumer confidence in the UK has taken a nosedive on the back of gloomy noises coming out of the new Labour government
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NewsHero Group outlines big expansion plans for Deliciously Ella
Hero CEO Rob Versloot told The Grocer he had also identified significant headroom to grow distribution in the UK in Tesco and Sainsbury’s, where the brand already has a presence, and in Asda, where listings are more limited