Finance news – Page 358
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NewsFood safety scandal slashes quarterly profits at 2 Sisters
Second-quarter profits have plunged at 2 Sisters Food Group owner Boparan Holdings, as the closure of its scandal-hit West Bromwich factory weighed on results.
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NewsUK retail sales return to growth in February
The rising cost of goods boosted retail sales in February according to the Office of National Statistics, with value sales growth significantly outpacing volume increases in purchases compared with the previous month.
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NewsBirds Eye owner Nomad more than doubles annual profits
Nomad Foods, owner of frozen food brands Birds Eye, Iglo and Findus, has reported “an outstanding year” during which it reported full-year organic revenue growth of 3.9%.
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NewsKerry bets big on plant-based trend with Ojah acquisition
Dutch-based Ojah makes plant-based meat substitutes using proprietary technology and exports to 21 countries
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NewsCity snapshot: Conviviality seeks £125m from investors to save the business
Conviviality has announced an equity placing to raise £125m in a bid to recapitalise the business – without which it said it was “unlikely” to be able to continue. Plus on a busy day in the City, Produce Investments back in profit, protein woes weigh on 2 Sisters, Reckitt pulls out of Pfizer talks and all the rest of the news from the City.
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NewsMedia Bites 22 March: Conviviality, Shell, Waitrose, General Mills
Conviviality, the company behind Bargain Booze and Wine rack, has mounted an emergency £125m fundraising in an attempt to save it from collapse.
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NewsNVM Private Equity invests £3m in The Primal Pantry
Healthy snack bar producer The Primal Pantry has secured a £3m investment from NVM Private Equity to help further expand its UK retail presence and international growth.
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NewsEU green lights Bayer’s $66bn deal for Monsanto
The European Union has conditionally approved pharmaceutical behemoth Bayer’s $66bn (£47bn) takeover of agrochemical company Monsanto.
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NewsFonterra CEO Theo Spierings steps down as profits plunge
Announcing half-year losses of £177m, the company said Spierings will leave later this year after seven years as CEO
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NewsHelloFresh cuts losses as it eyes move to profitability
German listed meal kit delivery company HelloFresh grew sales by more than 50% last year and cut its losses as it targets a move to profitability before the end of its 2018 financial year.
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NewsDiana Hunter steps down as Conviviality CEO
She has resigned with immediate effect, while non-executive chairman David Adams has stepped into the role of executive chairman
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NewsBestway credits soaring profits to Best-one performance
Bestway credits soaring profits to Best-one performance
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NewsFood-to-go leaders give cautious welcome to Brexit transition
The plan provided clarity and would give businesses ‘more peace of mind’, said UKHospitality CEO Kate Nicholls…
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NewsCity snapshot: Science in Sport revenues jump 28% to £15.6m
AIM-listed sports nutrition brand Science in Sport, which supplies Team Sky and Manchester United, has posted full-year revenues up 28% to £15.6m, though losses have deepened. Plus, Irish dairy giant Ornua has announced record revenues of €2.1bn for 2017, UK CPI falls to 2.7% and all the rest of the latest news from the City.
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NewsMedia Bites 21 March: Ocado, Fonterra, Amazon
Ocado could tap investors for more cash in the hunt for further international deals, while Fonterra’s chief executive Theo Spierings is to step down.
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NewsBritish Lion partially suspends Walston Poultry Farm
Animal rights group Animal Equality installed hidden cameras at the central Dorset farm from January to March this year
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NewsPepsiCo pledges to publish palm oil supplier list
The food and drink giant was among eight major fmcg suppliers attacked in a new report from the environmental group yester…
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NewsShop theft levels up 65% in a year, reports ACS survey
Shop theft levels up 65% in a year, reports ACS survey
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NewsCity snapshot: Ocado growth hit by Beast from the East
Winter storms that caused widespread disruption during the final week of Ocado Group’s (OCDO) first quarter, reduced Ocado’s sales growth by almost one percentage point back to 11.7%. Plus, Imperial Brands disposes of US tobacco products and all the rest of the latest news from the City.
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NewsMedia Bites 20 March: Tyrrells, Conviviality, Brexit
US confectionery giant Hershey is in the early stages of exploring options for British crisps brand Tyrrells, which it bought through the acquisition of Amplify Snack Brands less than four months ago.