Finance news – Page 167
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NewsSainsbury’s shares fall on well-flagged Covid costs
Sainsbury’s was the latest grocer to see its share price fall after one-off costs drove it to an annual loss
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NewsLaila’s posts further losses amid pandemic scratch cooking boom
Laila’s Fine Foods ‘reliant on creditors’ as it forecast it would be lossmaking for the third year in a row
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NewsUK food M&A activity recovers to highest level seen since 2017
According to Grant Thornton’s quarterly M&A report, the 63 transactions announced in the first quarter represent the highest deal volumes since 2017
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NewsCity snapshot: Nestlé agrees $5.75bn Bountiful Company supplements deal
Nestlé has boosted its presence in the global nutrition and supplement market with the US$5.75bn acquisition of The Bountiful Company
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NewsMedia Bites 30 April: Unilever, Amazon, Co-op
Unilever sounds price rise klaxon as manufacturers grapple cost pressures
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NewsTesco offers finance incentives for suppliers to sign carbon targets
The move incentivises companies to make positive changes to their business
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NewsJempson’s reports ‘outstanding’ increase in turnover and profit
Jempson’s launched a home delivery service for groceries, which racked up £1m of sales in the 2020 calendar year
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NewsCo-op delivery partner Zoom 1hr to launch £500k crowdfunding raise
Zoom 1hr has delivered 60,000 orders on behalf of the Co-op since November
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NewsCity Snapshot: Unilever boosted by emerging markets reopenings
Unilever has started the year on the front foot, posting organic growth of 5.7% helped by the lapping strict lockdowns in key emerging markets
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NewsMedia Bites 29 April: Sainsbury’s, WH Smith, Nestle, Reckitt Benckiser
A busy morning for food and drink in the papers, with Sainsbury’s annual results in focus.
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NewsWholesaler Serious Foods rescued from administration
Serious Foods, which has supplied ingredients to the hospitality and restaurant industry for a decade, has been bought by First Choice Produce
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NewsSupermarket price war drives down food prices for first time since 2017
Food prices have fallen for the first time in more than four years as supermarkets continued to slug it out in a bid to win shoppers, according to the latest figure from the British Retail Consortium and NielsenIQ.
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NewsMondelez sees sweet sales rise as shoppers continue to stock up on Cadbury and Oreo
Mondelez net revenues in the first quarter of 2021 jumped 7.9% to $7.2bn, with shoppers in Europe and Asia buying more of its brands, including the likes of Oreo, Belvita, Milka and Toblerone.
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NewsThe British Snack Co hits crowdfunding target as it prepares for lockdown easing
The company turned to the crowd to raise money to continue growing the sales channels, win new customers and prepare for the reopening of pubs, bars and cafes as lockdown eases.
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NewsSainsbury’s slumps to a loss despite surging revenues amid pandemic
Underlying pre-tax profits at the group slumped 39% to £356m in the year ended 6 March 2021, despite a 7.3% jump in retail sales to £28.8bn
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NewsMedia Bites 28 April: Waitrose/Deliveroo, Grocery market share, National Lottery
Waitrose and Deliveroo have struck a two-year partnership for rapid home grocery deliveries after a successful trial of the service
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NewsCity snapshot: Sainsbury’s slumps to a loss despite surging revenues
Sainsbury’s has plunged into the red after £485m of Covid-related costs and £600m-plus of restructuring charges for its Argos transformation programme more than offset a surge in revenues over the past year. Plus, on a busy morning, trading updates from Reckitt Benckiser, Carlsberg and Nichols; Deliveroo appoints two non-execs; and the latest shop prices index from the BRC and Nielsen.
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NewsUnilever boosts health and wellness exposure by buying sports nutrition brand Onnit
Onnit produces a range of supplements for improved cognitive function, mood and relaxation, gut health and immunity support
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NewsCity snapshot: Grocery growth stays strong as retail reopens and lockdowns lift
Grocery sales growth has remained in positive territory in recent weeks despite the reopening of wider retail, food service and the relaxation of social restrictions
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NewsMedia Bites 27 April: Pepco, inflation, Nestlé
Discount chain Pepco will float in Warsaw rather than London as it outlined plans to open thousands of new stores across Europe and appointed City grandee Richard Burrows as chair.