Finance news – Page 570
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NewsCity Snapshot: Sales and EBITDA climb in Q2 for Findus
Frozen giant Findus Group has released an update for its second quarter, with sales up 2% and EBITDA climbing 17% on a year ago.
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NewsMedia Bites 26 May: High street, M&S, Suntory, Costcutter
It’s a slow start to the week following the long bank holiday weekend with little in the way of grocery news in the papers.
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NewsFrozen food retailer Farmfoods plans England store surge
London and the South of England is growing territory for the retailer, which currently has more than 300 shops nationwide
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NewsPremier Foods' Gavin Darby hails return of volume growth
Premier Foods CEO Gavin Darby has hailed the return of volume growth at the supermarkets as a turning point…
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NewsKarro bags £74m package to aid next stage of expansion
Pork supplier Karro Food Group has secured a £74m funding package to support UK and international expansion.
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NewsCharles Wilson on Booker deal - 'The Budgens and Londis supply chain is underutilised'
The deal, if approved by the Competition & Markets Authority, will create a symbol group with 4,907 stores
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NewsReckitt Benckiser K-Y Jelly deal leads to more friction with competition watchdog
Durex owner Reckitt Benckiser’s attempt to acquire the K-Y Jelly brand is to come under more intense scrutiny from the UK’s deal watchdog as a result of concerns over higher prices for shoppers.
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NewsCity snapshot: Waitrose sales edge up as customers shift to summer products
Total sales edged up by just 0.1% at Waitrose in the week to 16 May, the CMA raises more concerns over Reckitt Benckiser’s takeover of KY and all the rest of the news from the City.
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NewsMedia bites 22 May: Booker, Tesco, SSP
Booker is “going head-to-head with the discounters and the Big Four grocers” after buying Budgens and Londis.
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NewsDairy Crest innovation centre on track
Company says new facility, located on the agrifood university’s campus in Shropshire, will give it increased access to food and farming research
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NewsDave Lewis could make over £6.5m a year from pay deal
The total, which is dependent on performance, would be over five times his annual salary
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NewsMedia Bites 21 May: Marks & Spencer, Premier Foods, Greencore
The papers are predictably dominated by Marks & Spencer’s return to annual profit growth yesterday, with chief executive Mark Bolland’s position suddenly looking more secure
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NewsCity Snapshot: Booker to buy Londis and Budgens
Booker has signed a deal with Musgrave to buy its Londis and Budgens chains in the UK for £40m, plus Dairy Crest’s annual profits collapse, Booker’s full-year results and the rest of today’s news from the City
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NewsBooker succeeds in £40m bid for Budgens and Londis
Londis currently has 1,630 convenience stores and sales of £504m in the year to December 2014, while Budgens has 167 convenience stores and supermarkets and sales of £329m.
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NewsM&S profits rise as food ‘outperforms’ the market and capex tap is turned off
Marks & Spencer was one of the biggest risers on the FTSE 100 today after posting a 3.4% rise in pre-tax profits to £600m.
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NewsCity Snapshot: Bolland upbeat as M&S reveals first rise in profits under his reign
Marks & Spencer CEO Marc Bolland has praised the performance of the retailer’s food business as the high street bellwether posted a 6.1% rise in underlying pre-tax profits to £661.2m – the first rise in the bottom line for four years. Plus Britvic CFO announces retirement as drinks company posts interim results.
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NewsMedia Bites 20 May: Asda, Walmart, deflation, Premier Foods
Asda licks its wounds as it lags behind rivals; sales and profits fall at Walmart; UK in deflation for first time in 55 years; and Premier Foods and Greencore confident in face of falling prices.
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NewsPremier Foods benefits as supermarkets hit back at discounters
Premier Foods said it was starting to see the benefits of the brutal grocery price war as the supermarkets fight back against the growth of the German discounters.
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NewsRefresco Gerber bottom line hit by costs of IPO
Refresco Gerber has fallen to a €11m loss in its first quarter thanks to costs related to its Dutch flotation in March.
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NewsBonds sees sweet sales growth thanks to new products
Bonds Confectionery has sweetened its balance sheet with a healthy increase in all key measures.