Finance news – Page 171
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NewsPlanet Organic rethinks expansion plans as it reviews sale and financing options
CEO George Dymond told The Grocer the business is in ‘rude health’, but new funding is needed to open new stores and return to profitability
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NewsCity Snapshot: Finsbury Food Group ‘encouraged’ by double-digit first half growth
Finsbury Food Group has posted an ‘encouraging’ first half performance as pricing drove revenue growth and profits were flat as margins reduced due to cost inflation
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NewsMedia Bites 21 February: NFU, fruit & veg, Aldi, Tesco
“Volatility, uncertainty and instability” are endangering UK farm businesses, according to the National Farmers’ Union, which is urging the government to support British food producers so they can keep supplying squeezed UK households and a growing global population.
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NewsMowi announces record year, breaking £1bn in operating profit
The company harvested a total of 446,000 tonnes of fish in 2022, some 4,000 more than guided a year ago
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NewsPetcare group Paramount eyes IPO following acquisitions spree
The owner of Pet Brands and Vital Pet Group has mooted a potential IPO or major fundraise after a spate of acquisitions that move it closer to a £200m sales target
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NewsCity snapshot: BrewDog enters Budweiser China joint venture to fuel Asian expansion
Craft brewer BrewDog has teamed up with Budweiser as part of a major expansion plan in China.
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NewsMedia Bites 20 February: Tesco, BrewDog, Morrisons, Planet Organic
Tesco is to kick off a review of its presence in the UK banking sector - a move that could lead to a sale of the business
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NewsCity News: Nestlé’s promise of improved profitability does little to reassure investors
Nestlé’s guidance towards improved profitability this year did little to ease investor concerns around a sharp underperformance of fourth quarter sales volumes, as well as the impact of ongoing price hikes
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NewsHavabier, Bemuse and Jump Ship turn to crowd to scale no & low brands
Three start-ups in the burgeoning no & low alcohol category have successfully raised almost £1m combined from the crowd
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NewsCity snapshot: Retail sales volumes bounce back in January
Retail sales volumes unexpectedly bounced back into growth in January as sales and promotions boosted shopper activity. Plus Costa Coffee names new CEO
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NewsMedia Bites 17 February: Nestlé, Aldi, Devro, SSP Group
The papers pick up the latest annual results from the world’s biggest food group, Nestlé.
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NewsIFF agrees $220m sale of UK-based Flavour Specialty Ingredients to Exponent
IFF has agreed to offload its UK-based Flavour Specialty Ingredients (FSI) division to private equity firm Exponent in a $220m deal.
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NewsDevro receives revised £562m offer from Saria as Unite plots strike in pay dispute
The revised price will see shareholders receive 320p a share in cash, up from 316.1p, in addition to a second 10p interim dividend.
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NewsHeineken says Russia exit will take longer than expected
The Dutch brewer promised to withdraw from the Russian market following its invasion of neighbouring Ukraine nearly a year ago
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NewsCity snapshot: Nestlé targets margin improvement after cost inflation dents profitability
Nestlé has targeted margin improvement in 2023 despite ongoing cost inflation after soaring input costs dented profitability in 2022. Plus updates from CCEP, Pernod Ricard, Kerry Group and SSP Group
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NewsUK cultivated meat investments jump fivefold in 2022
Analysis of PitchBook data found UK cultivated meat companies enjoyed £61m of new funding in 2022
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NewsMedia Bites 16 February: Morrisons, Wilko, Mowi, Heineken, Kraft Heinz
The papers pick up a credit ratings downgrade for Morrisons, alongside job cuts at Wilko, controversy over Norwegian salmon tax and results for Heineken and Kraft Heinz
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NewsMorrisons’ credit rating slashed amid concerns over leverage
Morrisons’ credit rating has been downgraded in response to disappointing sales and profits at the private equity-owned supermarket
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NewsKraft Heinz warns of more price hikes in 2023 to combat higher costs
Kraft Heinz is the latest global consumer packaged goods group to report a strong double-digit jump in the fourth quarter of 2022 thanks to hefty price rises.
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NewsCity snapshot: UK inflation slows for third consecutive month
Inflation has eased for the third month in a row but food price rises show no sign of slowing down. Plus, Heineken reports higher-than-expected profits