Finance news – Page 565
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NewsCity Snapshot: More work to do at 2 Sisters despite 'encouraging performance'
2 Sisters Food Group has increased like-for-like sales in its third quarter by 1.1% to £798.7m as the frozen division performed strongly
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NewsMedia Bites 23 June: Thorntons, Tesco, GCA
Ferrero’s £112m takeover bid of Thorntons dominates the papers this morning but news of Tesco topping a supplier survey as the worst of Britain’s leading supermarket chains at complying with industry guidelines also gets a look in.
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NewsThorntons shares soar on Ferrero takeover offer
Shares in UK-listed chocolatier Thorntons have rocketed up 43% after news broke this morning that Italian chocolate manufacturer Ferrero has agreed to pay 145p a share to buy UK-listed chocolatier Thorntons, valuing the company at £112m.
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NewsMoy Park IPO plans scrapped in favour of $1.5bn JBS sale
Brazilian food group Marfrig has decided against plans to float Northern Irish poultry producer Moy Park on the London Stock Exchange, preferring instead a sale to South American meat producer JBS.
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NewsCity Snapshot: Thorntons and Moy Park acquired as UK M&A activity heats up
Troubled chocolatier Thorntons is to be acquired in a deal worth £112m by Ferrero and chicken processor Moy Park has been sold by Brazilian parent Marfrig for $1.5bn
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NewsMedia Bites 22 June: Tesco, M&S, Illy
The papers look at what Tesco CEO Dave Lewis can expect at this Friday’s AGM as the supermarket giant is expected to reveal a further fall in sales
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NewsFirst Milk admits £22m losses in past financial year
First Milk accumulated pre-tax losses of around £22m during its past financial year, the dairy co-op has confirmed.
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NewsSoft drinks wholesaler JC Sudders ceases trading
Soft drinks wholesaler JC Sudders has ceased trading after going bust, leaving 20 staff without jobs…
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NewsJohnstone's Just Desserts "mis-stated" trading before collapse
The cake supplier issued invoices totalling £1.6m for products that had not been supplied
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NewsCity Snapshot: Fyffes pushes up profits forecasts
Irish fruit company Fyffes has significantly increased its earnings targets for 2015; Irish forecourt operator starts trading on the London and Dublin junior markets; and Waitrose has a demanding week. Plus the latest share price movements.
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NewsMedia Bites 19 June: Dunnhumby, Poundland, BHS
Google is teaming up with private equity firm Permira to make a joint bid for Tesco’s data business Dunnhumby; subdued trading at Poundland spooks the City; and BHS is reviewing the future of its flagship Oxford Street store in London.
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NewsCity News: Majestic Wine shares slide back on weak profits
Some of the gloss was chipped off Majestic Wine’s £70m takeover of Naked Wines in April…
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NewsAppetite for Charlie Bigham’s posh meals drive sales growth
Sales at Charlie Bigham’s have grown again despite a “fiercely competitive” grocery market and rising food costs as consumer appetite for its posh ready meals continues to get bigger.
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NewsPoundland shares sink despite £1bn breakthrough
Shares in Poundland sank more than 6% this morning despite sales at the discount retailer breaking the £1bn barrier for the first time.
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NewsMedia bites 18 June: Waitrose, MSRA, Rémy Cointreau
Waitrose’s innovative new scheme to allow customers to choose their own special offers has hit the headlines this morning.
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NewsCity snapshot: Profits up 18.6% at Poundland but it cautions over first half trading
Poundland’s full-year underlying pre-tax profits were up 18.6% to £43.7m as annual sales hit £1bn for the first time, plus board changes at Poundland and the FTSE 100 hits a five month low.
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NewsNew Booker chairman is former Müller Dairies boss Stewart Gilliland
Booker has this morning announced that Stewart Gilliland will replace Richard Rose as non-executive chairman.
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NewsCity Snapshot: Co-op drops fruit & veg prices as it enters price war
The Co-operative Group has waded into the supermarket price war with £125m committed to slash the cost of fruit and veg across its 2,800 UK stores. Plus Rimmel mascara maker Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets.
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NewsMedia Bites 17 June: Co-op, Coty, Nestlé, Woolworths
The Co-operative Group is to invest £125m to cut the prices of fruit and veg in its 2,800 UK stores; Rimmel mascara owner Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets; and Nestlé is cutting 15% of its workforce across 21 African countries.
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NewsMilk prices could go up without affecting demand, survey suggests
A survey of 1,270 milk drinkers by Mintel found that 51% of consumers would be prepared to pay more than £1 for four pints