Finance news – Page 372
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NewsBettys & Taylors sees profits fall despite sales hike
Yorkshire Tea maker Bettys & Taylors reported a drop in profits despite strong sales growth as rising commodity costs and exchange rate volatility hit the bottom line.
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NewsCompany Shop profits surge amid national footprint expansion
Company Shop posted a double-digit profits growth last year as the food surplus distributor benefited from the opening of its flagship store in St Helens.
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NewsWarburtons posts loss as slump in traditional bread hits
Bakery giant Warburtons swung to an eight-figure annual loss as it soaked up significant restructuring costs from the continued slump of the traditional bread market.
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NewsCity snapshot: Supermarket prices flat but only Asda remains in deflation
Supermarket prices have stayed flat year on year, but there are signs food price inflation could be creeping back into the market after close to a year of stagnant prices. Plus all the rest of the latest news from the City.
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NewsMedia Bites 5 July: Amazon/Deliveroo, Sainsbury’s, ABF
The CMA is mulling whether to investigate Amazon’s investment in food delivery firm Deliveroo’s latest fundraising
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NewsFroneri enters Israeli market with Noga Ice Cream acquisition
Froneri has agreed to acquired Nestlé business Noga Ice Creams, launching into the Israeli market for the first time.
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NewsAsda to launch 30-minute grocery delivery with Just Eat
The new service will offer 100 “essential lines” within half an hour
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NewsGrocery and Primark drive nine-month growth for ABF
Associated British Foods has seen a 3% increase in constant currency revenues from continuing businesses across its first three quarters thanks to growth in grocery, Primark and a third quarter improvement in its sugar division.
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NewsMedia Bites 4 July: Asda, Sainsbury’s, Brexit
A stock market flotation of Asda by Walmart, its American parent, is “two or three years away”, according to Roger Burnley, the British retailer’s chief executive.
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NewsRosemary Water brand raises over £1m to support exports and product launches
The company is targeting expansion in intenational markets to branch away from the struggling UK high street.
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NewsOrkla buys UK toffee manufacturer Confection by Design to expand UK foothold
The Scandinavian-based food group acquired the fudge manufacturer for an undisclosed amount.
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NewsYo Sushi acquires US rival Snowfox to ramp up retail efforts
The UK Sushi company merged with Snowfox to fuel its push into retail sales.
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NewsCity snapshot: Sainsbury’s first quarter sales slide amid non-food slump
Sainsbury’s like-for-like sales fell by a further 1.6% in the 16 weeks to 29 June to put further pressure on CEO Mike Coupe after its failed merger with Asda. Plus, PureCircle issues profits warning, shop prices drop but food inflation holds steady and all the rest of the latest news from the City.
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NewsMedia Bites: Tesco/Brexit, Majestic Wine, Sin taxes
Tesco chief executive Dave Lewis has told the BBC that planning for the new Brexit deadline of the end of October will be more difficult because the supply network will be full of Christmas stock.
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NewsBrewDog looks abroad despite first profit setback
The craft brewer is targeting further expansion despite posting its first annual loss in 2018
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NewsSainsbury’s trials WH Smith drinks supply in wholesale move
About 50 products will be available for customers to purchase from WH Smith at Victoria railway station
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NewsCity snapshot: CapVest finally agrees deal to buy Young’s Seafood
Private equity investor CapVest has finally won the long running bidding process for seafood specialist Young’s and will place it in an enlarged Karro Food Group. Plus, Morrisons restates first-half and full-year restated 2018/19 results on a IFRS 16 basis and all the rest of the latest news from the City.
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NewsAs Nature Intended back in the black as it plots future expansion
Health and organic food retailer As Nature Intended swung to a pre-tax profit in 2018 despite having to shut down one of its main London shops in a refurbishing programme.
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NewsCapVest-owned Karro acquires Young’s Seafood
Karro Food Group, the pork processor owner by private equity investor CapVest, has agreed terms to buy UK seafood business Young’s.
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NewsBespoke supplements brand The Nue nets $9m investment to accelerate growth
The Nue plans to use the capital raised to grow its direct-to-consumer offering and expand product range.