Finance news – Page 438
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NewsSainsbury's like-for-like decline is propped up by Argos
Like-for-like sales fell 0.5% at the supermarket in its fourth quarter
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NewsRed Bull flies high as full-sugar sales surge
Despite a health backlash against the white stuff, sugary pop is still powering huge growth for some of Britain’s top soft
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NewsCity snapshot: CapVest set to swoop for pork group Karro
Private equity house CapVest is understood to be close to sealing a deal to buyout UK pork processor Karro Food Group from Endless private equity house and management.
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NewsMedia Bites 17 March: Sainsbury's, Food inflation, Unilever
“Sainsbury’s saved again by its ‘guardian angel’ Argos” is the headline in The Times (£) this morning as the supermarket’s acquisition of Argos mitigated otherwise lacklustre results.
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NewsKarro Food Group set for £180m sale following turnaround
Pork processor Karro Food Group is set to be snapped up by new private equity owners in a deal worth about £180m after a turnaround by backers Endless.
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NewsChi secures funds to accelerate growth
Coconut water, milk and oil brand Chi has secured £1.5m from high net-worth backers and overseas distribution partners
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NewsYorkshire Game snapped up ahead of retail push
Game and venison supplier Yorkshire Game has been acquired by former Symington’s CEO David Salkeld meat industry veteran Adrian Lyons in a bid to get more wild products in the supermarket meat aisles
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NewsMedia Bites 16 March: National insurance U-turn, Brexit, inflation, Unilever
The embarrassing climb down by Chancellor Philip Hammond over national insurance hikes for the self-employed dominates coverage this morning, with the papers calling it a Tory U-turn.
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NewsCity snapshot: Sainsbury's warns of competitive pressures as like-for-like sales decline
Sainsbury’s CEO Mike Coupe has warned this morning of “very competitive” market conditions as like-for-like sales fell 0.5% at the supermarket in its fourth quarter, including a 4% slump in the general merchandise division. Plus, logistics firm Wincanton secures five-year contract with discount retail chain Wilko.
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NewsEfficiencies and weak pound boost earnings at Moy Park
Northern Irish poultry producer Moy Park has reported a four-fold increase in pre-tax profit despite the “economic turbulence” and “uncertainty” resulting from Brexit.
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NewsFirst Milk appoints Shelagh Hancock as new CEO
Former Medina MD Hancock, will replace Mike Gallacher, who was credited with turning around the dairy co-op
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NewsGMB calls on Park Royal food companies to pay £10 an hour
Union argues companies including Bakkavor, Eat and Charlie Bigham’s should adopt Living Wage Foundation’s recommended rate
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NewsCity snapshot: Unilever CEO calls for shake-up of UK takeover rules
Unilever boss Paul Polman has called on the Government to tighten up UK takeover rules after the Anglo-Dutch Marmite producer successfully saw off a £115bn bid approach from Kraft Heinz last month. Plus retail shares suffer and all the rest of the latest news from the City
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NewsMedia Bites 15 March: Unilever, UK takeover rules, Ocado
Unilever is considering returning cash to shareholders, making medium-sized acquisitions and more aggressive cost cuts as part of a sweeping review, the results of which it will announce next month.
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NewsBowman Ingredients secures funding for UK's first dedicated gluten-free plant
Hertfordshire-based food coatings supplier Bowman Ingredients has opened the UK’s first dedicated gluten-free manufacturing site after securing a £6m funding package from HSBC.
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NewsFourth quarter like for like sales up 7.4% at Moy Park as annual volumes increase
JBS-owned Norther Irish poultry processor Moy Park saw annual revenues dip 0.3% but profits increase as the volume of birds processed rose over the year.
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NewsEagle Eye turnover up as more brand partnerships are sealed
The company made a loss of £879,000 due to its investment in a “very significant” client in Canada
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NewsApplegreen to pay first dividend as profits rise 16%
Applegreen opened 32 new food outlets in 2016, as well as launching its new food offering, Freshii…
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NewsCity snapshot: Ocado remains in double-digit growth but points to pricing pressures
Ocado recorded overall sales growth of 13.3% in the first quarter to 26 February 2017, but CEO Tim Steiner warned of a “change in market pricing dynamics” hitting the industry
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NewsMedia Bites 14 March: EU trade, Asda, Petrol prices
A deal to avoid trade tariffs with the EU after Brexit will be imperative as the UK seeks to safeguard its long-term future, peers have warned.