Finance news – Page 162
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NewsMonde Nissin raises $1bn to drive global growth of Quorn
The owner of Quorn has raised $1bn to help fund a global push for its meat alternative brand after listing on the Philippines Stock Exchange.
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NewsCity snapshot: Wine sales surge at Chapel Down but sale of Curious Drinks hits profits
English wine maker Chapel Down shrugged off widespread closures in the off-trade to grow sales volumes 38% last year, but group results were hit by the weaker performance of its demerged beer and cider arm Curious Drinks.
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NewsMedia Bites 4 June: Tesco, Food prices, B&M
Tesco faces £2.5bn bill after the European Court of Justice Supermarket ruled that shop floor workers’ pay can be compared to distribution centre staff
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NewsWholesalers sound alarm over axing of government’s Trade Credit Reinsurance Scheme
The scheme will come to an end on 30 June after providing around £210bn in insurance cover
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NewsCity snapshot: Profits and sales surge in ‘exceptional’ year for B&M
Revenues leapt by a quarter and profits more than doubled at B&M European Value Retail as the coronavirus pandemic led to a spike in demand.
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NewsMedia Bites 3 June: Amazon, Footfall, Chapel Down
Amazon is poised to snatch Tesco’s crown as Britain’s biggest retailer in 2025 as the online titan lays waste to swathes of Britain’s high street.
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NewsRays Ice Cream seeking new owners
Established in 2011, Swindon-based Rays Ice Cream operates from a retail store in the Old Town area of the town
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NewsKocktail drinks to crowdfunding success as it prepares for retail launch
Launched in September 2020 by Emil Stickland and Andrew Hutchinson, the business raised £167k in the Seedrs campaign, valuing it at just less than £1m.
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NewsHancocks reports £1.3m loss after Covid devastates sales
Hancocks received £6.5m in government-backed loans after coronavirus restrictions forced the wholesaler to temporarily close its 19 cash & carry site
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NewsCook sees 7% sales jump as proportion of online orders soars
The upmarket frozen food retailer and manufacturer said it would pay back £235k of furlough aid
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NewsMedia Bites 2 June: Ferrero/Burton’s, Food inflation, JD Wetherspoon
Italian confectionery giant Ferrero has snapped up the maker of Jammie Dodgers and Wagon Wheels, taking a larger bite of the biscuit market
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NewsCity Snapshot: Supermarket sales drop as Brits return to the pub
Grocery sales at UK supermarkets have tumbled as locked-down consumers returned to pubs, cafes and restaurants following easing of coronavirus restrictions, the latest data from NielsenIQ showed. Plus, food prices fall for second month in a row as supermarkets battle it out to win shoppers, according to latest BRC-NielsenIQ Shop Price Index.
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NewsFerrero swoops to acquire Burton’s Biscuits to add to growing biscuit empire
The acquisition – for an undisclosed price – adds to the Italian confectionery giant’s growing biscuits empire following the takeover of Fox’s in 2020
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NewsCity snapshot: Quorn owner Monde Nissin debuts US$1bn IPO
Global noodle giant and Quorn owner Monde Nissin has completed the Philippines largest initial public offering in history after listing its shares today in a £720m float.
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NewsMedia Bites 1 June: Heinz, Caffè Nero, Ocado, Nestlé, Deliveroo
Heinz tomato ketchup will be made in Britain again after its owner announced plans for a £140m upgrade of a site on the outskirts of Wigan.
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NewsCity News: M&S exits torrid year with hopes the worst is behind it
M&S exited a torrid year with some positive momentum this week, triggering hopes in the City that the beleaguered retailer may be finally leaving the worst behind it
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NewsGreencore predicts strong bounceback of food to go as lockdown ends
The UK’s largest sandwich maker this week said sales fell by a further 19% to £577.1m in the six months to 26 March
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NewsRisk Capital kicks off third Gail’s sale process
Bread Holdings, the premium bakery group behind the Gail’s chain, has kicked off a process to find a new buyer as it emerges from the challenges of the pandemic
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NewsConfidence rises as food and drink companies see ‘light at end of tunnel’
An FDF survey found the rollout of the vaccine and the easing of lockdown restrictions were having a positive impact
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NewsCity snapshot: AG Barr reports encouraging trading as lockdown eases
AG Barr has said it is on target to bounce back in 2021, with sales recovering as the UK reopens