Finance news – Page 168
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NewsOatly shares surge on profitability promises and better end to 2022 than expected
Shares in Oatly have surged thanks to better-than-expected annual figures, promises of a future profit and $425m of new financing. CEO Toni Petersson said the group was ”well-positioned to start playing offence in 2023”.
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NewsSteven Bartlett’s Flight Fund invests $2.5m in personalised nutrition player Zoe
Dragons’ Den star Steven Bartlett has made a $2.5m (£2.1m) investment in personalised nutrition specialist Zoe via his newly launched $100m Flight Fund investment vehicle
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NewsMedia Bites 15 March: Asda/Co-op, Tesco, Sainsbury’s
Asda’s £600m takeover of the Co-op’s petrol forecourts could raise prices or lead to less choice, the competition watchdog has warned
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NewsCity snapshot: Vape maker Supreme sells IP of e-liquid brand T-Juice to La Vape Professional Distribution
Vape manufacturer Supreme has agreed to sell the intellectual property of premium e-cig liquid brand T-Juice to a French wholesaler for €4.5m.
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NewsOcean Saver plots ambitious grocery growth plan as it cleans up second crowd round
Sustainable cleaning challenger brand Ocean Saver has returned to the crowd as it seeks to double the size of its grocery business.
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NewsCity snapshot: Virgin Wines launches ‘full business review’ after sales and profits plunge
Online wine merchant Virgin Wines has launched a ‘full business review’ as pressure on consumer spending hit first half sales and profits. Plus, Sainsbury’s buys £430m property portfolio and Eagle Eye upgrades earnings expectations
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NewsMedia Bites 14 March: Silicon Valley Bank, John Lewis, inflation
The fallout from the failure of Silicon Valley Bank dominates front pages as well as the business sections of today’s papers.
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NewsM&S chief says spring budget should pause incoming regulation for retail
‘We would ask for no further legislative burden acting as a drag on business from unnecessary taxes or regulation,’ said Machin
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NewsDunbia picks up Jasper family lamb abattoir in Cornwall
Red meat processor Dunbia has expanded its West Country presence with the acquisition of a lamb processing site in Cornwall
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NewsScrumbles wins BGF backing to grow natural pet food brand
Natural pet food brand Scrumbles has secured a £6m investment from the BGF to continue its omni-channel growth strategy.
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NewsCity snapshot: Naked Wines seeks new financing partner following Silicon Valley Bank failure
Naked Wines is searching for a new financing partner following the collapse of Silicon Valley Bank, but the wine delivery firm said this morning its day-to-day operations remained unaffected by the situation.
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NewsMedia Bites 13 March: Tesco, Fever-Tree, Scrumbles, greedflation
Suppliers have hit back at Tesco over fees to sell produce online, warning that new fees imposed by Tesco could put them out of business
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NewsCity News: Greggs shares under pressure as stubborn inflation eats into profits
It was mixed picture for Greggs this week as the high street bakery chain revealed a 23% jump in 2022 revenues to £1.5bn but a mere 1.9% increase in pre-tax profits to £148.3m as soaring inflation ate into the bottom line.
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NewsCompleat Food picks up assets from collapsed Vale of Mowbray
The historic Yorkshire-based business, which started making pork pies in 1928, appointed administrators from FRP in September last year after struggling to cope with soaring input cost inflation and higher energy bills.
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NewsBig Prawn creditors owed £23m-plus when shellfish supplier collapsed
The majority of the money owed isn’t expected to be repaid, the report by administrator Kroll revealed
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NewsYeo Valley sees profits wiped out by cost inflation
Yeo Valley Organic’s production arm has fallen into the red for the first time since the credit crunch in 2008
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NewsCity snapshot: EG Group reports ‘resilient’ 2022 as it sells off chunk of US sites for $1.5bn
Forecourt giant EG Group has delivered “a highly resilient” performance in 2022 despite the challenging macro-economic environment. The group also announced a $1.5bn sale and leaseback on a portfolio of sites on the east coast of the US to help reduce its mountain of debt
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NewsMedia Bites 10 March: Fruit & veg shortages, Tesco, Morrisons, Boots
Supermarkets have begun to remove some of their purchase limits on fresh fruit and vegetables, introduced after widespread salad shortages and gaps on shelves.
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NewsTyphoo Tea to shutter Merseyside factory, affecting up to 90 jobs
The company is exploring options for a new site but said it would be at least a year before a suitable location was ready
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NewsCity snapshot: World Cup helps Domino’s Pizza Group score record Q4 orders
Domino’s Pizza Group has increased annual sales after an “outstanding” performance in the final quarter, boosted by a rollout on Just Eat and the World Cup