Finance news – Page 432
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NewsMedia Bites 9 July: Co-op/Costcutter, 2 Sisters, Palmer & Harvey
The Co-operative Group has made a failed £15m takeover approach for Costcutter that would have created a grocer with more than 4,000 shops (Sunday Times, Sky News).
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NewsSainsbury's shares boosted as Asda merger gets a step closer
Sainsbury’s (SBRY) reaffirmed itself as the slowest growing of the major UK grocers on Wednesday, but it’s the City shrugged off its stagnant sales to focus on news its mega-merger with Asda is a step closer.
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NewsNoble Foods sees pre-tax profits drop amid falling egg prices
Newly filed accounts at Companies House show pre-tax profits slumped by 78.8% in the year to 30 September 2017.
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NewsYoung's reveals losses as bidders raise interest
The seafood supplier recorded a 5.4% upturn in sales over the year
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NewsAfrica-inspired health brand Aduna in £300k crowdfunding push
The campaign will raise funds to scale up production of new tea and energy bar ranges
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NewsCity snapshot: OC&C Global 50 grow 5.7% after M&A spike
The globe’s largest consumer goods groups have delivered their highest growth for six years but only after using M&A to boost flatlining sales.
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NewsMedia Bites 6 July: Premier Foods, Associated British Foods, Brewdog
The owner of Mr Kipling, Premier Foods, is under pressure to sell its lucrative Batchelors soup brand amid a spat between the group’s chief executive and its second-largest shareholder .
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NewsWorld's biggest fmcg companies rely on M&A to rediscover growth
Headline growth for the OC&C Global 50 jumped to 5.7% in 2017 from just 0.5% in 2016 and 0.3% in 2015
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NewsCity snapshot: Low sugar prices temper Primark growth at ABF
Associated British Foods has announced it expects hit full year expectations despite a reduced profit in its sugar division as the group has enjoyed higher margins than expected at its Primark clothing retail business. Plus, Premier Foods and Oasis row continues, World Cup helps positive trading at C&C Group, new non-exec at Ocado and all the rest of the latest news from the City.
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NewsMedia Bites 5 July: Sainsbury's, Premier Foods, Brexit
The chief executive of Sainsbury’s came out fighting yesterday against suggestions he had taken his eye off the ball on trading after the supermarket chain reported lacklustre growth.
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NewsHome Run exceeds crowdfund target to expand in UK and Europe
The delivery service has raised £470,000 since the Seedrs campaign launched in June…
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NewsSainsbury's sales growth slows following price investments
Like-for-likes were up 0.2% compared to 0.9% in the previous quarter
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NewsCostcutter store numbers decline in wake of P&H struggles
Costcutter sore numbers fell from 2,200 to 1,776 in 2017
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NewsTesco scraps Brand Guarantee in favour of low everyday prices
The supermarket giant will pull the plug on the scheme on 16 July
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NewsCity snapshot: Sainsbury's like for like growth slows to 0.2% in first quarter
Sainsbury’s like-for-like sales growth slowed to 0.2% in the first quarter of 2018 as it instigated price cuts to battle a “competitive market”.
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NewsMedia Bites 4 April: Conviviality/KPMG, Premier Foods, Brexit prices
KPMG is being investigated by the Financial Reporting Council over its audit of Conviviality, the boss of Mr Kipling owner Premier Foods has won the backing of two City heavyweights and more.
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NewsKPMG faces investigation over Conviviality accounts audit
The auditor has stressed it completed its work “appropriately”
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NewsHenderson Foodservice acquires Irish supplier BD Foods
The acquisition is designed to strengthen Henderson Foodservice’s offering to hotel and restaurant businesses
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NewsMcBride sells personal care business and issues profits warning
Own label household goods manufacturer McBride has agreed a £12.5m sale of its European personal care liquids business and issued a profits warning on weaker than expected early summer sales.
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NewsMedia Bites 3 July: Tesco/Carrefour, Nestlé, Premier Foods
The link-up between Tesco and Carrefour gets plenty of coverage, with most centred on the potential impact on under-pressure suppliers.