Finance news – Page 535
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Scottish craft brewer Broughton Ales acquired by industry trio
Brewery produces brands including Greenmantle Ale, Old Jock, Hopopotamus IPA and Blonde Lager
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Media Bites 18 November: Asda, Kantar Worldpanel, B&M
The travails of the UK grocery market – and in particular Asda – receive plenty of scrutiny this morning as the latest Kantar Worldpanel data is picked over.
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City snapshot: DekelOil eyes profits uplift as production gets underway at Ivory Coast plant
DekelOil has started production at its kernel crushing plant in Ivory Coast to add a further “significant” revenue stream at the palm oil project.
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Asda sales fall in Q3 as conditions remain “tough” for Andy Clarke
Like-for-like sales at Asda have fallen by -4.5% in the third quarter as the supermarket price war, food price deflation and the continued growth of the discounters all took their toll.
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Aldi and Lidl reach combined 10% of UK grocery as sales surge
Kantar Worldpanel figures show Lidl enjoyed a 19% surge in sales year on year in the latest 12-week period
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Princes to extend Aqua Pura factory with £15m investment
Princes investing £15m as part of plans to grow the bottled water brand
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Iglo sales hit on difficult trading in three biggest markets
Sales at Birds Eye owner Iglo have fallen 8.4% to €315.5m in the third quarter as it exited markets in Romania, Slovakia and Turkey and was hit by currency exchange rates.
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Media Bites 17 November: Majestic Wine, Tesco, Black Friday
Majestic Wine takes up plenty of column inches as the papers digest what the 50% slump in profits and the new turnaround plan means for Britian’s biggest wine marchant.
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City snapshot: B&M drives sales with record store openings
B&M has increased revenues by almost 26% to £930.3m thanks to the rapid growth of its store network. Plus the latest market share data from Kantar Worldpanel and Nielsen.
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Moy Park sales slip in "challenging" market
Moy Park revenues have fallen 1% in the third quarter thanks to foreign exchange movements, the impact of bird flu outbreaks, commodity price deflation and lower international sales.
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UK only major European fmcg market in decline, reports Nielsen
Supermarket price war makes UK the ‘one big blip’ in growing European fmcg market
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HKS Holdings adds 23 forecourt sites with deal for Brobot Group
HKS Holdings completes deal to buy 23 forecourt sites…
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Majestic Wine eyes £500m sales in three-year turnaround
Majestic Wine CEO Rowan Gormley is targeting sales of more than £500m by 2019 as the business embarks on a three-year turnaround plan.
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Glanbia snaps up ThinkThin for $217m
Irish nutrition group Glanbia has agreed to acquire a US protein bar producer for $217m.
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Media Bites 16 November: Big four, Aldi, Lidl, B&M, Poundland
The big four supermarkets are being “taxed to oblivion”; Aldi and Lidl are planning to open five times as many stores as their traditional rivals; and B&M and Poundland to report first-half results.
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City snapshot: Majestic Wine warns on profits as it launches “transformational” plan
Majestic Wine has issued a profits warning alongside a new three-year transformation plan for the business
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Wincanton in Morrisons talks as profits slide in first half
Wincanton hopes to thrash out its future involvement with Morrisons following the supermarket’s sale of M Local to Mike Greene.
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Sainsbury's fall in profits illustrates severity of the task
The green shoots didn’t last long for Sainsbury’s as shares slump 7% after profits falter.
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UK food and drink M&A set to hit its highest level since 2007
UK food and drink M&A is set to hit its highest level since 2007 after another hike in deals in the third quarter
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Sainsbury's pledges to continue price-cutting strategy
Sainsbury’s is doubling down on its strategy to invest in price and cut promotions