Finance news – Page 262
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NewsJohn Rogers exits Argos to take up top finance role at WPP
Rogers has spent 14 years at the retailer and had been seen as a potential successor to Sainsbury’s CEO Mike Coupe
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NewsCity snapshot: Greggs outlook unchanged as third quarter sales rise
Greggs posted another quarter of sales increase, while analysts predict Tesco’s interim sales to flatline amid strong comparatives and Brexit uncertainty
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NewsMedia Bites 1 Oct: Jamie Oliver, Waitrose, Red meat
Celebrity chef Jamie Oliver has received a £5.2m dividend payout from its restaurant chain despite falling profits and the collapse into administration of its UK arm. Across the wider Jamie’s Italian group, profits were down to £8m in 2018 from £14.7m due to costs associated with the ...
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NewsJam and chutney maker Rogue seeks £150k for national expansion
Rogue has already gained listings in Sainsbury’s and Ocado
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NewsDr Oetker snaps up specialist baking business Cake Craft World
The acquisition was completed for an undisclosed amount
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NewsPoundland parent renamed ‘Pepco Group’ amid major growth drive
The group wants to increase its store estate to 4,000 across the UK and Europe
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NewsThe Saucy Affair turns to the crowd for full brand relaunch
The fresh sauce startup is looking to raise £350k to fully relaunch the brand with a new name and look
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NewsPudology to vanish from chillers as brand prepares for liquidation
It follows months of struggling to recoup volume losses after Sainsbury’s delisted the free-from brand
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NewsCity snapshot: Farmdrop promotes CFO Herrin to CEO to deliver on ‘huge opportunities’
Local farm-to-consumer food delivery service Farmdrop has promoted CFO Eleanor Herrin to the role of chief executive officer. Plus, a look ahead to the rest of the week’s events and all the rest of latest news from the City
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NewsMedia Bites 30 Sep: Sainsbury’s, Poundland/Pepco, Tesco
Sainsbury’s has warned suppliers that they will be left to face the bill in the case of higher no-deal tariff costs.
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NewsBurton’s makes return to growth as sales of sweet biscuits rise
Burton’s returned to growth in 2018, with sales up 1% to £235m
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NewsBirds Eye UK sees second year of sales growth but profits tighten
The frozen food manufacturer posted revenues up 5.9% to £431m for the year ending 31 December 2018
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NewsCity snapshot: Müller posts further significant UK losses in face of ‘broken’ market
Müller’s UK & Ireland business has slumped to another significant annual operating loss, on the back of challenging conditions in the liquid milk category.
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NewsMedia Bites 27 Sep: Vaping crackdown, Kraft Heinz/Mondelez, Shop Closures
The US crackdown on vaping has wiped £7bn off the share price of The UK’s tobacco giants as panicked traders rushed to a sell-off the sector.
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NewsBurts Snacks sales jump 50% following popcorn acquisition and organic growth
Burts annual sales jumped in 2018 but the company swung to a pre-tax loss of £608k due to rising costs
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NewsBranston owner Mizkan Euro expects redundancies after losing key contract
Branston pickle and chutney maker Mizkan Euro has announced the loss of a “significant” private brand contract that will likely result in a programme of redundancies
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NewsRawtenstall Jack’s store to close and revert to Tesco
Rawtenshall has been trialled as a bulk-buy format, sparking speculation the chain could morph into a cash & carry-style proposition
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NewsImperial Tobacco warns of vaping crackdown hit on profits
Imperial Brands has warned investors that a “challenging” US market for vaping products and weaker than expected performance in its Africa, Asia and Australasia business will hamper full year revenue and earnings growth.
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NewsMedia Bites 26 Sep: Philip Morris/Altria, Sainsbury’s, Tesco/Jack’s
The $200 billion merger between two of the world’s biggest tobacco companies has been called off because of mounting regulatory scrutiny of the vaping market.
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NewsVegan ready meal maker The Brook smashes crowdfunding target on first day
The Brook will use the funds raised to increase brand awareness, make “key hires” and scale production in pursuit of further expansion within UK grocers