Finance news – Page 547
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NewsCity snapshot: Poundland confirms £50m share placing to fund 99p Stores acquisition
Poundland has confirmed its intention to raise £50m through a share placing to help fund the £55p takeover of rival 99p Stores
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NewsMedia Bites 24 Sep: Convenience stores, Tesco, Diageo
Owners of convenience stores across the country are mothballing large capital expenditure projects as they fear the financial impact of the national living wage proposals, according to The Times.
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NewsReal Good Food's shares drop on early year revenue fall
Real Good Food’s share price dropped by 3.8% to its lowest level since mid July after updating the market on its falling early year like-for-like sales this morning.
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NewsDiageo volumes improve but volatile currency markets bite
Shares in drinks giant Diageo have risen as CEO Ivan Menezes reassured the market of the group’s impending recovery. The boost to the stock came despite Menezes warning operating profits would take a £150m hit because of volatile currency markets.
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NewsYoung's to keep open two under-threat Scottish sites, saving 250 jobs
The processor had considered closing the sites after losing a Sainsbury’s salmon contract
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NewsDisposable income up £18 a week, says Asda Income Tracker
Asda CEO Andy Clarke said the strengthening economy was to thank for the boost
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NewsCity snapshot: Diageo set for £150m currency hangover
Diageo boss Ivan Menezes has warned this morning that £150m will be wiped off this year’s operating profits as a result of exchange rate movements.
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NewsMedia Bites 23 September: WH Smith, Kantar Worldpanel, AG Barr
Kantar Worldpanel’s most recent grocery market share figures, Irn-Bru maker AG Barr’s sales falling flat and WH Smith ended its ‘rip-off’ hospital shop prices all feature prominently in today’s papers.
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News2 Sisters announces £55m ready meals factory revamp
2 Sisters Food Group is to invest £55m to boost its growing ready meals division, including the complete reconstruction of its Pennine Foods factory in Sheffield.
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NewsGeneral Mills improves profits despite sales slip
Profits at General Mills leapt 23.6% to $426.6m in its first quarter despite overall revenues slipping slightly as the US food group improved pricing and focused on margin expansion efforts.
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NewsIrn-Bru maker’s stock plummets as sales disappoint
Shares at AG Barr have slid 5.4% so far today to a 35-month low after disappointing sales in the first half hit by mixed British weather and price deflation in the soft drink market. Analysts trimmed their full-year forecasts for the Irn-Bru owner but expected growth to return in the long term.
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NewsSainsbury's grows sales again as Tesco market share continues to fall
The German discounters, Aldi and Lidl, reported sales growth of 17.3% and 16% over the period
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NewsMorrisons adds food manufacturing heft to the board with former Arla Foods boss
Morrisons has bolstered its board with the appointment of Neil Davidson, the former CEO of Arla Foods UK
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NewsMedia Bites 22 Sep: SABMiller, Tesco, Finsbury Food Group
SABMiller has beefed up its advisory team with the appointment of Goldman Sachs as it musters its defences
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NewsCity snapshot: Poor British weather hits AG Barr's first half sales
Irn-Bru maker AG Barr’s first half revenues slipped by 2.8% as the poor British weather hit soft drinks sales
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NewsThemed cakes and M&A boosts Finsbury sales
Sales at Finsbury Food Group have increased 45.8% to £256.2m thanks to major acquisitions and the success of themed cakes based on Disney films, such as Frozen, and other animated characters.
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NewsCornish Sea Salt Co secures funding to fuel exports
Cornish Sea Salt Company is targeting more international sales after securing £1.3m in funding. The natural salt manufacturer also plans to ramp up its UK production facilities to keep up with demand for its products at home and abroad.
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NewsPureCircle sets sight on LSE main market as sales rise
PureCircle revealed its intention to move from the junior market of the London Stock Exchange to the main market as the ongoing war on sugar helped fuel a rise in sales at the stevia producer.
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NewsScottish Food and Drink Federation appoints David Thomson CEO
Thomson joins in December and replaces Dr Colette Backwell
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News'Transformational' year for Finsbury as sales soar
Finsbury Food Group has boosted its top line by 45.8% to £256.2m and like-for-like sales 6.1%