Finance news – Page 163
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NewsMedia Bites 28 May: EG Group, Pets at Home, Tate & Lyle
Demand for takeaways during the lockdown drove profits up at the petrol station owner EG Group, offsetting a decline in fuel
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NewsFood & drink M&A activity ‘back with a vengeance’ in 2021
Deal activity has roared back “with a vengeance” during 2021 as big fmcg players added in-demand plant-based and DTC brands to their portfolio.
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NewsCity snapshot: Covid pet ownership surge boosts Pets at Home
The surge in pet ownership during the coronavirus period has boosted trading at the country’s largest pet retailer Pets at Home. Plus annaul results from Tate & Lyle and PayPoint and all the latest news from the City.
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NewsMedia Bites 27 May: M&S, Tesco, C&C Group, Unilever
The papers go big on their coverage of the M&S annual results.
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NewsGrubby raises £800k to expand plant-based recipe kit offering
Founded by Martin Holden-White last year, Grubby is poised to take advantage of growing demand for meal kits, food delivery and plant-based.
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NewsThatchers defies Covid gloom with strong growth in supermarkets
Revenues increased 22% to £130m in the year ended 31 August 2021 despite the challenges of pubs going into lockdown, newly filed accounts at Companies House showed.
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NewsSeaweed & Co adds advisor to Walgreen Boots COO to its board in equity sale
Mario Patrocollo also took “a small, initial equity stake”, along with future options, in the company.
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NewsMedia Bites 26 May: Gail’s, Greencore, Grocery market share
Luke Johnson has revived his attempt to sell the upmarket bakery chain Gail’s after a strong performance during the pandemic
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NewsCity Snapshot: M&S swings to loss of more than £200m as Covid takes its toll
M&S has sank into the red as revenues fell almost 12% to below £9bn in a year heavily disrupted by the coronavirus pandemic. Plus, Pepco shares jump more than 9% on stock market debut; cider maker C&C Group tumbles to a loss as lockdowns decimate revenues; and Finsbury Food Group lifts profits expectations.
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NewsSaputo snaps up Scottish vegan cheese brand Sheese
The Cathedral City owner said the deal for Sheese owner Bute Island Foods would ‘expand our footprint in the dairy alternatives space’
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NewsWilko sales drop £107m as Covid-cautious shoppers stay away from high street
Sales fell 7.3% to £1.4bn in the year ended 30 January 2021, with like-for-like figures down 7.7%, according to the accounts
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NewsCovid restrictions hit first half sales at Greencore
Sales fell by a further 19% in the first half at Greencore as coronavirus restrictions continued to hit its food to go business.
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NewsCity snapshot: Grocery sales dip as lockdown eases
Take home grocery sales edged back 0.4% in the 12 weeks to 16 May the UK’s coronavirus lockdown eased and the vaccine rollout continued. Plus, Greencore and Restaurant Group encouraged by trading following COVID reopening and all the rest of the latest news from the City
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NewsMedia Bites 25 May: Weetabix, Hilton Food Group, hospitality
Unions are warning there could be a Weetabix shortage this summer if a “fire and rehire” row leads to strikes.
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NewsBug flies past £300k crowdfunding target to launch insect recipe kits
Founded in 2018 by Leo Taylor and Aaron Thomas, Bug has ambitions to become the UK’s “go-to” brand for edible insects as it launches a range of recipe kits and insect packs.
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NewsMedia Bites 24 May: M&S, John Lewis, TGI Fridays
Bosses at Marks & Spencer will try to put the pandemic and a decade of woes behind the retailer next week when they reveal that it has clawed its way back into the black
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NewsCity Snapshot: Demand remains strong for Tesco supplier Hilton
Mixed protein supplier Hilton Food Group has made “a strong start” to the year as momentum driven by pandemic tailwinds continued across its global markets. Plus, Kitwave starts trading on the London Stock Exchange following IPO.
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NewsPremier’s dividend payment represents further proof of turnaround credentials
Premier Foods took another step in its City turnaround this week by paying out its first investor dividend for 13 years
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NewsOatly emphasises UK as it launches $10bn IPO
Plant-based brand Oatly has emphasised the importance of the UK market to its future growth as launched its $10bn New York IPO yesterday
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NewsCity snapshot: UK retail sales surge as shoppers flock back to stores
Retail sales volumes jumped 9.2% in April as the easing or coronavirus regulations and the return of shoppers in stores boosted the industry. Plus, Oatly shares soar on market debut, UK consumer confidence rises and all the latest news from the City