Finance news – Page 365
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News'We warned KFC over delivery contract switch' claims GMB
The switch led to 255 redundancies at Bidvest Logistics and the closure of one of its depots.
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NewsCity snapshot: Kerry Group annual sales grow 4.5% despite weak pound
Irish good giant Kerry Group has reported a 4.5% jump in full-year revenues to €6.4bn driven by strong volume growth despite the weak pound. Plus, C&C Group ends US deal with Pabst and all the rest of the latest news from the City.
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NewsMedia Bites 20 Feb: Reckitt Benckiser, McColl’s, Russell Hume
“Swallowing rivals fails to fatten up Reckitt”, write The Times (£) as the consumer group’s flat-lining revenues hit its share price. Plus, McColl’s shares drop after P&H blow, Russell Hume collapses and more.
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NewsReynolds buys Wimbledon-based greengrocer Solstice
Solstice had been in administration before being acquired by Reynolds…
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NewsRussell Hume goes into administration
The meat supplier has been under investigation by the Food Standards Agency over labelling concerns since late January
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NewsDHL supply problems close hundreds of KFC restaurants
KFC had just gone live with DHL and QSL to manage supply and distribution to all 900 UK outlets
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NewsMorrisons buys Yorkshire egg supplier Chippindale Foods
The deal will allow Morrisons to bring forward the date at which all its eggs will come from non-caged hens
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NewsHenderson takeover of McColl's stores gets CMA go-ahead
The CMA launched a phase one investigation into the deal last month
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NewsMedia Bites 19 February: Matt Davies, Tesco, Reckitt Benckiser, Greene King
The former UK boss of Tesco is to become one of the FTSE 350’s youngest chairman after landing a job at online retailer N Brown.
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NewsCity snapshot: Sales surpass £1bn at McColl's
Annual sales at McColl’s Retail Group smashed through the £1bn barrier last year thanks to the rapid expansion of its store portfolio. Plus, a return to growth in the fourth quarter failed to lift Reckitt Benckiser as the Dettol to Durex maker reported flat like-for-like sales for 2017.
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NewsHop Stuff brewery ends crowdfunding drive after smashing £400k target
It has raised over £700k from 968 investors to fund the brewery’s growing taproom estate.
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NewsGCA role will not be extended to cover primary producers
More retailers with sales of more than £1bn could be added to the code remit, but announcement will be a huge blow for campaigners who have long called for an extension of the powers
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NewsTough Christmas sees Ultimate Plum Pudding Company collapse
All 20 employees at the Cumbrian company have been made redundant
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NewsProfits at Pukka Pies plunge 45% despite rising sales
A hike in the cost of raw materials ate into the Leicestershire-based pie-maker’s margins
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News'Brexit boost' pushed UK exports to record £22bn in 2017
This was up by more than £2bn in 2016, representing 13.4 million tonnes of goods, Defra announced this week
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NewsNestlé reports slowest growth this century
Consumers have continued to shun mainstream packaged food in favour of cheaper own-label or healthier snacks
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NewsJoe Delucci's saved but creditors lose more than £2.5m
More than 40 unsecured creditors are unlikely to recieve a penny
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NewsMedia Bites 16 February: Nestle, Tesco/Booker, Lidl
Annual results for Nestlé and worrying developments for the Tesco/Booker merger ahead of the shareholder vote make the papers today.
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NewsCity snapshot: Growth accelerates in the second half for Danone
Accelerating growth in the second half helped French food giant Danone hike like-for-like sales by 2.5% to €24.7bn in 2017. Plus, Coca-Cola European Partners said it had beaten expectations in the first full year since its formation, but strong growth of Coke Zero was offset by decline in its other trademark brands.
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NewsAsda in talks over pension cuts protest by 2,000 NI workers
Shopworkers union Usdaw is to urge Asda to think again after staff signed a petition against proposed pension cuts….