Finance news – Page 114
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NewsSSP shares soar as Upper Crust owner shows signs of recovery
Shares at SSP Group soared higher today as the markets welcomed hopes of a sustained recovery at the food-to-go group following the pandemic
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NewsCranswick sales top £2bn as it slams ‘muted’ government response to pig crisis
The pig and poultry giant saw revenues rise by 5.8% in the 12 months to 26 March
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NewsCity Snapshot: Lidl and Aldi grab more share as grocery inflation hits 13-year high
Food price inflation has hit its highest level for 13 years, with Lidl and Aldi stealing more market share from rivals, according to Kantar. Plus, annual results from Cranswick and interims from Greencore and SSP Group, with a trading statement from Hilton Food Group.
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NewsMedia Bites 24 May: Starbucks, Superdrug, THG
Starbucks has become the latest consumer brand to pull out of Russia as the wider exodus of multinational companies from the country continues three months after its invasion of Ukraine.
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NewsCity Snapshot: Moonpig to bulk up gifting proposition with £124m acquisition of Buyagift
Online greeting card group Moonpig has proposed a £124m deal to acquire gifting experiences company Buyagift. Plus, DTC ready meal group Parsley Box hires marketing director.
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NewsMedia Bites 23 May: THG, M&S, Tesco, Ocado, Pets at Home
THG remains in focus for the papers over the weekend as the embattled firm awaits further higher bids in takeover talks.
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NewsCity News: Premier Foods shares surge on beefed-up dividend and boosted profits
The Bisto and Paxo owner’s trading profits for the year to 2 April of £148.3m beat expectations
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NewsMindful Chef reports surge in growth amid healthy diet boom
Surging grocery growth and expansion into ready meals saw meal kit player Mindful Chef maintain strong growth last year on top of a record-breaking 2020
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NewsM&S hits out at Chancellor’s plans to introduce online sales tax
The letter sees M&S break ranks with other big supermarkets including Tesco, Sainsbury’s and Morrisons who are supportive of the idea
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NewsCity snapshot: UK retail sales rebound in April on grocery growth
UK retail sales recording a surprise bounce in April, growing 1.4% as higher spending on fuel, alcohol and tobacco booster overall figures
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NewsThis plots biggest-ever meat-free crowd round to supercharge growth
This – launched in 2019 by Andy Shovel and Pete Sharman – is aiming to raise at least £4m from the round but expects to overfund and beat the €5.4m (£4.6m) raised by Spanish brand Heura last month
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NewsMedia Bites 20 May: THG, Iceland, online sales tax, Co-op
A shock offer by property mogul Nick Candy to take THG private makes headlines this morning.
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NewsCity snapshot: Fever-Tree makes ‘sold’ start to 2022 despite cost pressures
Fever-Tree has said it has made a “solid” start to its financial year, trading in-line with expectations despite logistics disruption and inflationary pressures.
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NewsMedia Bites 19 May: Premier Foods, inflation, Arla Foods, Ocado, Impossible Foods
The papers are filled with stories on the latest inflation figures and how it is affecting the likes of Premier Foods, Ocado and milk producer Arla.
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NewsS-Ventures acquires Amazon specialist Market Rocket to launch digital drive for brand portfolio
Fmcg investment house S-Ventures has added an Amazon specialist to its portfolio, with the acquisition of Market Rocket.
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NewsM&A activity slows as inflationary pressure builds
Soaring inflation is putting increasing pressure on M&A activity in the food and drink industry, a new report warns
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NewsMedia Bites 18 May: Walmart, Britvic, Morrisons
Walmart shares endured their biggest fall in 35 years yesterday after costs and surging inflation in the retailer’s first quarter prompted it to cut full-year earnings guidance
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NewsCity Snapshot: Premier Foods to hike prices higher as Mr Kipling helps group beat profit forecasts
Premier Foods beats profit expectations for the year but warns of more price hikes. Plus, UK inflation hits 40-year high of 9% in April; Virgin Wines strikes strategic partnerships with Great Western Railway and Currys; and Marston’s returns to profit as pub trading returns to normal.
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NewsMorrisons rescue deal for McColl’s priced at £190m
Morrisons has committed a total of £190.1m to rescue convenience chain McColl’s, administrator’s documents have revealed
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NewsJam n Vegan scores backing from Veg Capital for retail push
The business will use the £200,000 investment to build brand awareness, expand the team around founder Kyle Parchment and open up new channels.