Finance news – Page 575
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NewsLincolnshire Co-op says profits up £1m, pays out £2.2m dividend
The society said sales in the six months to March were boosted by its Love Local range of products from local suppliers, which increased sales by 22%
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NewsPork Farms acquisition gets thumbs up from competition watchdog
Pork Farms is a step closer to completing its acquisition of Kerry Foods chilled savoury pastry business after the monopoly regulator provisionally cleared the deal.
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NewsHeineken impresses in Americas and Asia Pacific with strong growth
The group’s total sales were up 8.1% to €4.83bn before currency exchange rates. In the Americas, that growth rate was 18%, while in Asia Pacific, it was 21%.
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NewsTesco posts worst results in its history with £6.38bn loss
However Tesco said its trading profits were in line with expectations at £1.4bn, while UK like-for-like sales volumes rose for first time in over four years
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NewsConnect Group reports profits rise
Connect Group said total sales rose 1.2% to £909.9m in the six months to 28 February, while underlying profits rose 3.3% to £27.7m
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NewsCity Snapshot: Tesco shares rise slightly despite biggest-ever loss
With all the bad news coming out at once, the City’s reaction seems to suggest that Tesco’s future is brighter, a notion backed up by the first like-for-like sales volumes rise in over four years
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NewsMedia Bites 22 April: Tesco, Pret a Manger, Wal-Mart
The morning is dominated by Tesco’s record loss, coming off the back of £7bn in writedowns
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NewsAssociated British Foods stock falters as sugar woes hit
Shares in Associated British Foods have slipped back 4.7% to 2,735p
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NewsCity Snapshot: Profits tumble at Associated British Foods thanks to sugar business
ABF CEO puts brave face on half-year results
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NewsElla's Kitchen into the red but sales and profits rise
The one-off cost stemmed from the write-off of a loan between the UK company and US cousin Ella’s Kitchen Inc, which was formed following the sale to Hain Celestial in May 2013
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NewsTesco analysts bullish about prospects despite profit forecasts
Analysts expect good news as well as bad in Wednesday’s results
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NewsSupermarket price war devastates UK food suppliers – Begbies Traynor
Food and drink manufacturers across the UK are suffering the most as the big supermarkets slash prices to compete with each and fight back against the rise of the discounters.
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NewsBirds Eye owner reeled in by investment group for €2.6bn
Birds Eye owner Iglo has been sold to an investment company for €2.6bn (£1.84bn), private equity backer Permira has confirmed.
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NewsCity Snapshot: Supermarket war takes toll on suppliers and producers
Supplier and food producers are feeling the pain of the long and brutal supermarket price war in what recovery specialist Begbies Traynor said was a “savage landscape”.
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NewsMedia Bites 20 April: Tesco, Birds Eye, Co-op
Tesco readies itself for ‘horror show’ results, Birds Eye owner Iglo set to be sold for €2.6bn, and Co-op can’t commit to Fairtrade in tough trading environment
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NewsCity News: Diageo's pain is SABMiller's gain
There were contrasting fortunes for the UK’s largest listed alcohol firms on Thursday…
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NewsPoundland sticks to its guns forcing in-depth CMA investigation of 99p deal
Poundland £55m acquisition of rival discounter 99p Stores will face in-depth scrutiny from the Competition and Markets Authority after the group decided not to allay the watchdog’s monopoly fears.
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NewsJim McCarthy: Poundland's growth is not dependent on 99p Stores
Poundland’s rate of store openings slowed during the previous financial year, giving it 547 UK stores
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NewsBrakes Group plans Continental boost by acquiring Davigel
News broke on Wednesday that Brakes is in exclusive talks with Nestlé about acquiring Davigel - a deal that Brakes CEO Ken McMeikan said would, in effect, double its business in France
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NewsTayto sales and profits boosted by Golden Wonder resurgence
The sales improvement is partly due to the rebound of the Golden Wonder brand, which has seen double-digit sales value rises recently after coming under Tayto ownership in 2006