Finance news – Page 449
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NewsCity snapshot: Fever-Tree sales fizz ahead of expectations
Posh mixer brand Fever-Tree has upgraded its profit expectations for the year after sales continued to rapidly accelerate in the second-half of 2016. Plus, profits sink at PZ Cussons as Nigerian market continues to be challenging.
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NewsSales and profits up at ready meals supplier Oscar Mayer
Own label ready meals supplier Oscar Mayer grew sales by over 5% last year as strong demand from key customers helped negate the “challenging marketplace” in UK grocery.
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NewsWestons profits fizz as cider maker taps into craft
Profits fizzed higher at Westons as the cider manufacturer outperformed the struggling UK market thanks to growing consumer demand for more premium and craft brands.
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NewsBon Bon Buddies overseas focus delivers record year
Overseas expansion and new contract wins have helped Welsh confectioner Bon Bon Buddies to record results, with sales up 13% and profits more than doubling in the year to 30 April 2016.
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NewsCity snapshot: Boparan receives mystery £350m approach for Fox's Biscuits
2 Sisters owner Boparan Holdings has received a takeover approach for its Fox’s Biscuits business from an unnamed suitor, valuing the division at around £350m. Plus all the rest of this morning’s news from the City
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NewsMedia Bites: Weetabix, Premier Foods, Fox's Biscuits, Unilever
The runners and riders are lining up for the potential auction of Weatabix, with a host of names linked to a £1.5bn buyout of the cereal maker over the weekend.
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NewsPremier Foods investor urges sale as profits fall short
Concerns surrounding Premier Foods’ “ability to recover from its long-standing ‘zombie’ status”
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NewsPremier hit by fall in multibuys as higher costs squeeze margins
A reduction in supermarket multibuys and own-label growth has wiped out branded sales growth, Premier Foods has claimed
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NewsSupermarket shopping app Ubamarket secures PE rollout funds
The app is currently being trialled in the Warner Budgens flagship store in Moreton-in-Marsh
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NewsPE owner of Hancocks engages advisers to explore sale
The private equity owner of Hancocks Cash & Carry is exploring options for a potential sale of the specialist confectioner
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NewsCity snapshot: Heineken in talks to buy Kirin’s Brazilian beer business
Dutch brewing giant Heineken has confirmed this morning it is currently is talks with Kirin over a possible deal for its Brazilian beer business. Plus Crowdcube posts record year of food crowdfunding deals and all the rest of the latest news from the City.
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NewsMedia Bites 20 Jan: M&S, Finsbury Food, Carrefour
“M&S ambitions to regain clothing crown dented by global rivals”, writes the Financial Times (£).
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NewsBrewDog £10m bond caps a recordbreaking year for Crowdcube
Booming investor demand for food and drink brands has fuelled a recordbreaking year on crowdfunding platform Crowdcube, with popular craft brewer BrewDog hitting its £10m target at the end of 2016.
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NewsLindt sales boost from higher-than-average UK growth
Lindt said it was now the fastest-growing chocolate brand in Great Britain, where it now has 13 retail shops, as group sales rise 6.8% to CHF 3.9bn (£3.1bn) in 2016.
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NewsVegemite returns to Aussie roots in £282m Mondelez sale
Vegemite is back in Australian ownership for the first time in more than 90 years after Mondelez International sold the yeast extract spread as part of AU$460m (£281.7m) deal.
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NewsNim’s to launch kids snacks after record raise on Backit
The Kent-based supplier surpassed its £20k campaign target by raising £22,761 of pledges from 71 backers
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NewsCity snapshot: Finsbury Food Group warns it must recover rising costs
Finsbury Food Group has said “further cost recovery” will be required in the second half after flat first half sales
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NewsMedia Bites 19 Jan: Premier Foods, Mondelez, BHS
US hedge fund Paulson & Co, until recently Premier Foods’ second-biggest investor, has launched a blistering attack on the company after it blamed commodity prices and a weak pound for a profit warning that sent its shares tumbling.
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NewsEuro Garages reportedly lining up Little Chef bid
The forecourt operator is understood to be in “advanced talks” to buy the brand and its 70 restaurants from Kout Food Group
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NewsFirst spinach, now courgettes, tomatoes and peppers hit by short supply
Supermarkets are struggling to source some fresh produce items due to poor weather across Europe