Finance news – Page 166
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NewsCity Snapshot: Greggs profits from easing of lockdown as sales surge
Profits at Greggs look set to return to pre-Covid levels quicker than expected after sales at the bakery chain surged as shoppers flocked back to the high street in April. Plus, a trading update from Hotel Chocolat reveals a strong performance.
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NewsPlenish set for major retail push following acquisition by Britvic
Plant-based drinks maker Plenish is set to take on Alpro and Oatly as part of a major retail push by new owner Britvic following its acquisition this week.
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NewsRiverford Organic Farmers revenues rise on ‘phenomenal surge in demand’
Turnover at the Devon-based company jumped 13.5% to £75.7m for the 52 weeks to 30 April 2020.
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NewsCity News: AB InBev’s new top team will benefit from post-lockdown resurgences
AB InBev confirmed on Thursday that CEO Carlos Brito would step down after 15 years in charge, to be replaced by North America chief Michel Doukeris, amid a strong rebound of first quarter sales as coronavirus restrictions eased across key markets.
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NewsStraight & Narrow seeks £100k from crowd ahead of ‘disruptive’ low & no launch
The brand is pushing for funding to launch a 13-strong range of non-alcoholic spirits
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NewsCity Snapshot: Kitwave unveils £105m IPO on London’s junior market
Wholesaler Kitwave has announced it will join the London Stock Exchange in a move valuing the company at £105m. Plus, shoppers return to the high street as Covid restrictions eased and non-essential stores reopened, according to latest footfall data.
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NewsWaitrose defends rates relief as it posts record profits
Waitrose posted record levels of profits last year as sales boomed during a period in which it benefited from business rates relief.
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NewsMedia Bites 7 May: Sainsbury’s, AB InBev, Beyond Meat
Sainsbury’s has hired the former boss of John Lewis Paula Nickolds to take charge of its £7.8bn clothing and general merchandise arm.
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NewsBanquist secures £1.6m to grow its Michelin star recipe kit service
Launched in May 2020 during the height of the UK’s first coronavirus lockdown, Banquist generated £1m turnover in its first six months as consumer demand for recipe kits soared.
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NewsCity snapshot: AB InBev boss Carlos Brito to step down
The world’s largest brewer AB InBev has announced CEO Carlos Brito will step down after 15 years in charge, to be replaced by North America chief Michel Doukeris. Plus ABI posts strong start to 2021, Virgin Wines and Glanbia up guidance and all the rest of the latest news from the City
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NewsMedia Bites 6 May: Pepco, Asda, Co-op
The former boss of Asda will make up to £9.2m selling shares in the upcoming Warsaw stock market listing of Pepco, the owner of Poundland.
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NewsSerious Pig smashes crowdfunding target as it eyes further growth
Premium snacks brand Serious Pig, which is backed by BrewDog’s James Watt, has smashed a £350,000 crowdfunding target to help accelerate growth, expand the product range and bolster its sustainability credentials.
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NewsLyre’s worth more than £100m as it raises extra funding for growth
The business plans to use the new funds to boost its presence overseas from 43 countries currently to 60 by the end of the year, as well as investing in its manufacturing capabilities in the UK, Europe and the US, and helping to prepare for the reopening of the global hospitality sector as restrictions ease.
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NewsIssa brothers to sell 27 forecourts and clinch Asda takeover deal
The CMA had raised concerns over possible fuel price hikes in areas where both Asda and EG operate
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NewsPure Pet Food receives further private equity cash injection
The latest funding round follows a £2m cash injection from NVM Private Equity in 2019
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NewsMedia Bites 5 May: Tesco, Co-op, Nestlé
Tesco has agreed to increase sales of healthier food following pressure from investors
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NewsCity snapshot: Online demand slows as shoppers return to supermarkets
Supermarket customers shopped less online and more in store in April following the latest easing of coronavirus restrictions, new figures showed this morning. Plus, Pepco values itself at up to €5.8bn in upcoming Warsaw IPO; shares in McBride collapse on warnings or soaring raw material costs; and Raisio sales and profits fall in Q1 as it laps 2020 panic buying.
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NewsBritvic snaps up Plenish as it bets on plant power to fuel growth
Britvic has strengthened its presence in the fast-growing plant-based nutrition category with the acquisition of Plenish for an undisclosed sum
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NewsCity snapshot: HelloFresh sales more than double amid increased capacity
European delivery kit giant HelloFresh has posted another quarter of bumper growth as it increased capacity to meet surging demand during the coronavirus pandemic.
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NewsMedia Bites 4 May: Ocado, Starbucks, Asahi
Ocado faces a shareholder backlash over “excessive” pay, including boss Tim Steiner’s near-£7m windfall.