Finance news – Page 30
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NewsCity snapshot: Premier Foods sales jump after ‘biggest ever’ Christmas
Premier Foods posted strong double-digit growth in its third quarter, boosted by its “biggest ever Christmas” and significant market share gains. Plus updates from ABF, Chappel Down and Marston’s.
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NewsMedia Bites 23 January: Morrisons, baby formula, VBites, Virgin Wines
Morrisons is closing in on a £2.5bn deal to sell its petrol forecourts portfolio to another company backed by its private equity owner, according to reports.
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NewsHeather Mills strikes rescue deal for VBites
Heather Mills has bought the assets of her collapsed plant-based VBites empire from administrators in a rescue deal worth £1m, The Grocer can reveal
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NewsMedia Bites 22 January: Retail sales, Sainsbury’s, shrinkflation
British retail sales plummeted in December, marking the biggest decline in nearly three years and raising the risk that the UK economy has slipped into a technical recession
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NewsCity snapshot: Virgin Wines celebrates ‘good’ Christmas
Virgin Wines UK has hailed a “good” Christmas and revealed a “significant” improvement in profitability during its first half. Plus, catering giant Compass has agreed a £475m deal to acquire hospitality firm CH&CO
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NewsCity news: Ocado shares under pressure despite ‘record’ Christmas
Ocado Retail’s return to double-digit growth, a “record” Christmas and – most notably – a move back into the black were all good news this week.
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NewsPrinces profit drops as sale nears completion
Canned food giant Princes suffered a sharp drop in profitability last year despite a £300m sales boost
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NewsVibrant Foods back in growth as transformation takes effect
World foods specialist Vibrant Foods is back in growth following a £30m refinancing
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NewsWyke Farms defies inflation challenges to post £11m profit
The West Country-based cheese and butter maker delivered a 68.4% rise in operating profits to £10.9m in the year to 31 March 2023
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NewsCity snapshot: Christmas retail sales plunge as consumers cut back
Retail sales slumped by 3.2% in December, which was the worse monthly drop since the depths of the coronavirus pandemic, as consumers cut back in the run-up to Christmas.
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NewsMedia Bites 19 January: Sainsbury’s, Naked Wines
Sainsbury’s move to pull out of financial services as part of its latest strategy is the main story in focus in this morning’s papers.
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NewsInnocent losses soar as £200m factory needs more investment
Revenues declined by £15.6m – a 3.5% fall year on year – to £426.2m in the 12 months ended 31 December 2022, according to newly filed accounts
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NewsYeo Valley boosted by diversification and milk prices
The organic dairy supplier increased turnover by 22% to to £315.9m for the year to 28 May 2023
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NewsSainsbury’s shakes up leadership team as Paula Nickolds leaves
Paula Nickolds will leave to become CEO of The White Company
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NewsCity snapshot: Sainsbury’s to wind down core banking operations
Sainsbury’s has announced it will wind down its core banking operations and instead offer financial services via third party financial groups. Plus updates from Cranswick, Pepco, Bakkavor, Naked Wines and C&C Group
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NewsMedia Bites 18 January: Inflation
The surprise increase in inflation is the main focus in this morning’s papers.
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NewsFood manufacturers struggling more with inflation than other sectors
Food manufacturers’ margins have been squeezed in 2023 as retailers fought hard against cost price increases
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NewsRegal Food Products strengthens desserts portfolio with Love Handmade Cakes deal
Regal Food Products has continued its acquisition spree with the takeover of cake manufacturer Love Handmade Cakes
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NewsMajor apple supplier begins shutdown following price challenges
The apple producer cited a lack of retailer returns as a significant reason for its financial challenges
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NewsNorth Brewing ‘seeking investment’ to stave off administration threat
North Brewing cited material cost increases and interest rates as reasons why additional funds were required