Finance news – Page 175
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NewsCity Snapshot: Deliveroo narrows losses ahead of £7bn IPO
Surging demand for takeaways during 2020 has helped Deliveroo narrow losses as transactions on the food delivery app soared, the group said this morning as it prepares for an upcoming £7bn IPO.
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NewsMedia Bites 8 March: Food imports, Asda, Deliveroo
Ministers are preparing to relax post-Brexit plans for border checks on food and other imports from the EU over fears of supermarket shortages
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NewsSupermarkets and meat giants expected to jostle for Farmison
Sales at the heritage meat delivery business doubled to more than £12m in 2020 as shoppers flocked online to buy during COVID
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NewsHalewood sees 20% sales boost in spirits over lockdowns
The distiller and drinks distributor’s on-trade and global retail businesses were hit by Covid restrictions in the year to 27 June 2020
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NewsAmazon grocery suppliers protest new terms on Vendor Central platform
Brands using Amazon’s Vendor Central platform have raised concerns in recent months
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NewsCity Snapshot: Record online sales mitigate in-store like-for-like sales slide in February
Shuttered high street shops contributed to a 3.1% decline in total like-for-like sales in February but fashion and homeware helped drive online sales to a record high.
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NewsMedia Bites 5 March: Deliveroo, Whisky, Amazon Fresh
Deliveroo has pressed the start button on a listing on the London Stock Exchange that is expected to value the loss-making food delivery business at more than $7bn
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NewsBudweiser Brewing Group to invest £115m-plus in its UK breweries
It will invest £72m in the South Wales site and £45m in the Lancashire site
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NewsFirst Milk invests £12.5m in additional cheese and whey processing
The investment takes the amount ploughed into production by First Milk to £30m over the past three years
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NewsCity snapshot: B&M hikes profits expectations after strong lockdown sales
The owner of B&M Bargains has hiked its full year profit expectations after sales continued to boom during the second lockdown period this year. Plus, Marston’s asks bondholders to relax financial covenants, Wynnstay acquisitions, Supermarket Income REIT raises more cash to buy supermarkets and all the rest of the latest news from the City
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NewsOrchard House brings in former Premier Foods boss Gavin Darby
The fruit and juice supplier has bought in Gavin Darby following its acquisition by private equity investor Elaghmore
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NewsMedia Bites 4 March: Budget, Amazon, Sainsbury’s
The papers are predictably focused on yesterday’s Budget, but find room to cover the opening of Amazon’s first grocery store in the UK.
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NewsPukka Pies sets out £4.5m bakery investment as it eyes further growth
The pie brand, which took home the Brand of the Year title the 2020 Grocer Gold Awards, plans to enhance manufacturing capacity and capability at the Syston factory as it gears up for future growth.
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News🔴 Budget 2021 Live: Chancellor outlines Covid recovery measures
The latest updates for the grocery industry on the B
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NewsMedia Bites 3 March: Budget/Furlough, Grocery share, Virgin Wines
Rishi Sunak will announce on Wednesday that the Treasury is extending its furlough scheme until the end of September in an attempt to safeguard jobs as a fragile economy emerges from the Covid-19 emergency
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NewsCity snapshot: Profits evaporate at Vimto owner Nichols in face of Covid crisis
Vimto maker Nichols has experienced a dramatic slump in sales and profits as it faced the “unequalled challenges” presented by the Covid pandemic. Plus, fierce competition keeps food inflation in check, according to the latest BRC-Nielsen shop price index for February. There are also trading updates from DS Smith and Smiths News.
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NewsEmmanuel Faber agrees to step down as Danone CEO
French dairy giant agrees to split chairman and CEO role, meaning it will search for a new chief exec following shareholder pressure
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NewsSeafood supplier Sco-Fro netted by Japan’s Nishimoto Co
Established in 1975 by founder and chairman Stanley Bernard, Sco-Fro is one the UK’s largest importers of own-label noodles and frozen sushi and surimi.
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NewsLindt sweetens global decline with rising UK sales
A strong performance in the UK helped Lindt offset declines across the world as the coronavirus pandemic disrupted several areas of the Swiss confectionery giant’s business.
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NewsFarmison appoints KPMG to explore investment options
The Yorkshire-headquartered meat delivery firm is targeting sales of £100m with ambitious plans to continue disrupting the ind