Finance news – Page 360
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NewsMenzies Distribution for sale after DX merger scrapped
Parent company John Menzies confirmed a sale process has begun
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NewsHMRC to create new duty category for ‘heat not burn’ products
Heated tobacco products are currently assessed by the taxman on a case-by-case basis to determine the appropriate liability for duty
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NewsConviviality calls in PwC after unexpected £30m tax bill
The ailing booze giant is to meet with HMRC and key stakeholders
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NewsConviviality suspends shares after week of turmoil
The Bargain Booze and Matthew Clark owner’s shares have crashed by around two thirds since last Thursday
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NewsMedia Bites 14 March: Greencore, Fever-Tree, Budget statement
Greencore’s profits warning, Fever-Tree’s annual results and Phillip Hammond’s spring statement are in the headlines this morning.
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NewsCity snapshot: 'Strong year' for Morrisons sees progress on sales, profits and debt
Morrisons has announced a 2.8% rise in annual like-for-like sales, a double-digit jump in profits and a large reduction of net debt as its recovery under CEO David Potts continues. Plus, Conviviality shares suspended “pending an announcement”, Greencore drops 30% on yesterday’s profits warning and all the rest of the latest news from the City.
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News‘Arithmetic error’ to blame for wiping £365m off Conviviality
Conviviality has updated the market after its shock profits warning on Thursday to confirm that its full-year adjusted EBITDA will be around £14m lower than previously forecast.
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NewsHammond calls for evidence in review on plastic waste
The government is also going to look at the possibility of using fiscal measures to target chewing gum litter…
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NewsGreencore shares slump 30% on US profits warning
Shares of food-to-go supplier Greencore have slumped by almost 30% today after it issued a profits warning on headwinds in its struggling US business.
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NewsFever-Tree looks to tequila for future growth, says CEO
The brand has also hinted at bourbon and whisky brand partnerships over the coming year…
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NewsAnnual sales jump 21% at forecourt specialist Applegreen
Petrol forecourt retailer Applegreen is toasting increases in profits, revenue and growth, in its end of year financial statement for 2017.
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NewsCity snapshot: Fever-Tree annual sales jump 66% but margins edge back
Drinks mixer supplier Fever Tree has announced yet another jump in sales, but a fall in its gross profit margin in its preliminary results. Plus, Greencore has announced a major restructure of its US operations and downgraded earnings expectations, Applegreen and CCR update the market and all the rest of this morning’s news from the City
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NewsMedia Bites 13 March: Just Eat, Gousto, Chinese takeaways
Deutsche Bank has downgraded takeaway delivery firm Just Eat over £50m investment plan to fend off food delivery rivals Uber and Deliveroo
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NewsSignature Flatbreads back in family control after Aryzta exit
UK-based flatbread supplier Signature Flatbreads is back under family control after a deal to buy out joint venture partner Swiss bakery giant Aryzta.
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NewsCity snapshot: Retail footfall falls again in February
Retail footfall declined by 0.5% in February according to the latest BRC – Springboard footfall and vacancies monitor, though this latest decline marked an improvement on recent falls in shopper numbers. Plus, consumer spending made its weakest start to the year since 2012 and all the rest of the latest news from the City.
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NewsMedia Bites 12 March: Morrisons, P&G, Consumer spending
Welsh ice cream and gluten-free pies from Yorkshire are some of the locally sourced products Morrisons will add to its shelves this week as its customers ask for more British food
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NewsSeaweed-based foods start-up Seamore seeks £220k from the crowd
Seaweed start up Seamore has launched a new crowdfunding campaign seeking to raise £220k to develop more seaweed products to add to its range.
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NewsMoy Park and Tayto 'named and shamed' over underpayments
Northern Irish businesses among 179 companies singled out by Department for Business, Energy and Industrial Strategy for underpaying staff
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NewsMorrisons may face £100m equal pay claim says legal firm
Legal firm Roscoe Reid claims it has attracted “hundreds” of claimants
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NewsJigsaw Foods sees 18.1% pre-tax profit slump as costs rise
Despite that, the fast-growing company saw sales growth of 20.7% in the UK and 21.9% in the US…