Finance news – Page 492
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NewsHolland & Barrett sales and profits soar
The retailer has demanded a reduction in costs of at least 5% to help fund its ambitious expansion plans
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NewsMedia Bites 23 June: Morrisons, Tesco, ABF
Morrisons has offered to rehire former employees who may lose their jobs as a result of the expected administration of My Local, the convenience store group it sold last year.
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NewsTesco first quarter like-for-like sales up 0.9% as it sells Harris + Hoole
Tesco has reported group like-for-like sales grew by 0.9% in the 13 weeks to 28 May, including its second quarter of like-for-like UK growth for the first time in more than five years.
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NewsZenith Hygiene acquires CCL Pentasol
Zenith Hygiene Group has agreed to acquire chemical manufacturer CCL Pentasol to break into new markets in the food, drink and dairy industries.
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NewsAldi and Lidl own label boom helping UK buck downward trend
Of six European countries analysed by IRI, the UK’s own label sector was the only showing growth last year
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NewsMy Local briefs staff over possible administration
Convenience chain files a Notice of Intention to Appoint Administrators
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NewsMedia Bites 22 June: My Local, Brexit, Stock Spirits, Whitbread
Convenience store chain My Local has filed notice to appoint administrators just nine months after being created from Morrison’s cast-offs; and your favourite supermarket could reveal which side will win your vote in the EU referendum.
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NewsCity snapshot: My Local on the verge of administration
My Local has reportedly filed a notice of intention to appoint KPMG as administrator, putting more than 2,000 jobs at risk in the process.
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NewsThree Crowns Confectionery secures £300k funding package
Hull-based Three Crowns Confectionery has undergone a management buy-in after securing a £300k funding package from East Yorkshire-based One Stop Business Finance.
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NewsDairy Crest CEO Mark Allen’s pay rises 45% after dairy division sale
Dairy Crest CEO Mark Allen received a pay packet worth £1.44m in the year to 31 March 2016 as his annual bonus and share awards more than doubled after the successful divestment of its UK dairy business.
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News2 Sisters’ sales edge upwards in “encouraging” third quarter
Sales at 2 Sisters owner Boparan rose 0.6% to £784.5m in its third quarter in what CEO Ranjit Singh called “another positive performance”.
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NewsMorrisons apologises for 2015 GSCOP payment demand breaches
Morrisons accepted that 19 requests for lump sum payments last year were in breach of GSCOP
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NewsJJ Food Service invests £15m to open three new branches
New sites in Dagenham, Newcastle and Leicester are scheduled to open and be fully operational this autumn
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NewsCity snapshot: Costa Coffee grows first quarter sales by 11.4%
Costa Coffee grows its first quarter sales by 11.4%, FTSE 100 sees its biggest jump in three years and pound soars on diminished Brexit fears
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NewsMedia Bites 21 June: My Local/Morrisons, Majestic Wine, BHS
Morrisons is facing a potential liability of up to £20m as My Local looks at options for the business, including administration.
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NewsTree of Life reports double-digit sales growth to £50m
Ocado and Amazon-listed health food brand Tree of Life has grown its annual sales by 10% to £50m in the year ending 31 March 2016.
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NewsStag Bakeries invests £525,000 in new facilities and machinery
The Hebridean business hopes to give its brand broader appeal
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NewsMajestic shares rise on annual sales boost
Majestic Wine shares were up 3.4% today after its core retail business reported its first like for like sales growth for four years.
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NewsReckitt signs UK licencing deal for K-Y with Thornton & Ross
Reckitt Benckiser has agreed an eight year licencing deal with UK-based, German-owned consumer health group Thornton & Ross for the K-Y brand in the UK.
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NewsCity snapshot: Majestic Wine sales top £400m after retail sales rise
Majestic Wine’s retail business posted its first like-for-like sales increase in four years to grow annual revenues to over £400m. Plus share rebound in EU remain hopes and a look ahead to the week in the City.