Finance news – Page 140
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NewsMedia Bites 11 November: M&S, Walkers, US inflation, JD Wetherspoon
M&S was firmly in focus this morning after it lifted profit forecasts in an upbeat set of half-year results.
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NewsGlanbia exits milk category to focus on core business
Glanbia is set to exit the dairy sector to focus on growing its core ingredients and nutrition divisions after agreeing a deal to sell its 40% stake in Ireland’s biggest milk processor.
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NewsMedia Bites 10 Nov: ABF/Primark, Grocery market share, Philip Morris
The boss of Associated British Foods underlined his confidence in Primark’s bricks-and-mortar strategy and said it would not raise prices despite supply chain pressures
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NewsCity Snapshot: M&S lifts profits forecast as turnaround picks up pace
Marks & Spencer has upgraded its expectations for the year for the second time as its sales and profits leapt ahead of pre-pandemic figures.
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NewsFeragaia secures backing from Danish billionaire Anders Povlsen
Based in Fife, the business was founded in 2019 by Jamie Wild and Bill Garnock, formerly of Pernod Ricard and Edrington Americas respectively.
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NewsFodaBox attracts multimillion-pound PE investment
Logistical services provider FodaBox has secured £2.1m in private equity backing to help expand the business.
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NewsCity snapshot: Grocery sales fall as shoppers stay away from stores
Grocery sales fell by 1.9% in the three months to the end of October as consumer shopping behaviour stabilises post pandemic. Plus food sales mitigate Primark sales drop at ABF, CCEP sees strong GB recovery and all the rest of the latest news from the City.
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NewsMedia Bites 9 November: THG, Coca-Cola, retail sales
The City’s financial watchdog is understood to be reviewing trading volumes in THG after comments made by boss Matt Moulding last week during trading hours could have been interpreted as market-sensitive information.
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NewsTesco’s pension scheme investments to become net zero by 2050
The two retirement schemes have over 345,000 members and more than £24bn in assets
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NewsCMA launches investigation into Ranjit Boparan’s acquisition of Banham Poultry
The founder of 2 Sisters Food Group struck an agreement to acquire the Norfolk-based chicken processor through his private family office last month
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NewsCity Snapshot: Cake Box profits boom as it grows estate
Profits have more than doubled at Cake Box as customers flooded back to its stores after the end of lockdown.
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NewsMedia Bites 8 Nov: Yo! Sushi, Weetabix, M&S
he company behind the sushi chain Yo! has halted plans for a £750m stock market listing amid growing unease among investors
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NewsCity News: Sainsbury’s bumper profits not enough to offset Argos concerns
Continued strong grocery performance was not enough to reassure investor concerns over increasing costs and tumbling Argos sales.
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NewsTunnock’s profits crash after missing pandemic biscuit boom
The business ceased production at its Uddingston factory in South Lanarkshire on 24 March 2020 for six weeks.
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NewsCoconut Collaborative sees sales grow by 29%
The yoghurt alternative brand’s sales rose from £11.9m in 2019 to £15.2m in 2020.
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NewsGood Club plans bigger £6m raise for zero-waste push after bagging £1m from the crowd
The business intends to use the cash to grow its range of products in reusable packaging to 50% of total sales, up from 23% currently.
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NewsCity snapshot: Nichols upgrades profits on stronger than expected sales rebound
Vimto supplier Nichols has upgraded its full year growth expectations for the 2021 calendar year after a stronger than forecast rebound in sales following the ending of Covid restrictions
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NewsMedia Bites 5 November: Sainsbury’s, M&S, BoE
The papers focus on the latest Sainsbury’s results and the Bank of England’s decision to hold interest rates.
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NewsFuture Farm seals £42m funding round to extend into plant-based drinks
The business, which launched in the UK in January 2020, is now valued at more than $400m and growing at 960% a year in Europe.
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NewsCity snapshot: Sainsbury’s profits jump despite second quarter sales slowdown
Sainsbury’s has posted a strong rebound in first half profits on continued grocery growth despite a wider like for like sales slowdown in its second quarter