Finance news – Page 597
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NewsTesco admits a £250m overstatement of profits
Tesco has stunned the city this morning by admitting that it may have overstated its profits for the half year by as much as £250m.
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NewsRobin Terrell to lead Tesco UK as investigation into £250m profit hole kicks off
Tesco head of online operations Robin Terrell is to lead the retailer’s UK business as it kicks off an urgent investigation into how its half-year profit guidance ended up being overstated by £250m.
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NewsFinlay Beverages still in the red but upbeat about 2014 progress
Finlay Beverages remained in the red last year as it continued to recover from a key contract loss three years ago…
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NewsGavin Darby hails departing Premier Foods director Ian Deste
Premier Foods chief executive Gavin Darby has paid tribute to commercial director Ian Deste ahead of his exit
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NewsConviviality Retail chief exec Diana Hunter sells £1.36m of shares
Chief executive of Bargain Booze-owner Conviviality Retail Diana Hunter sold £1.36m worth of shares in the company yesterday.
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NewsShareholder group targets Diageo executive pay
Diageo heads into another AGM today with its executive pay policies under fire.
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NewsPremier Foods splits into three divisions amid management changes
Premier Foods has announced a major restructure of its business that will see the company split into three distinct business units and a number of management changes.
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NewsHovis sales back on uphill trend after split from Premier
Hovis – which lost £56m in retail sales last year – has returned to growth…
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NewsMorrisons honours dividend pledge despite plummeting profits
Morrisons’ underlying profits before tax plunged 51% to £181m in the six months to 3 August…
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NewsSMEs outperform fmcg giants in UK 150 report
Small and medium-sized UK food and drink suppliers are outmanoeuvring their multinational competitors,…
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NewsRH Amar targets 'even greater success' for Mary Berry brand
RH Amar has vowed to drive the Mary Berry brand to “even greater success” after buying Mary Berry & Daughter…
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NewsGlorious! soup-maker TSC Foods Group in 36% profit boost
TSC Foods Group saw a 36% boost to pre-tax profit in the year before it was bought by The Billington Group…
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NewsWaitrose 'right to join price war' despite profit fall
Waitrose MD Mark Price insisted the supermarket was right to respond to competitors’ price cuts…
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NewsMcBride’s full-year sales hurt by brand promotions
An explosion of promotional activity on branded goods has hit the performance of private label specialist McBride in the year to the end of June.
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NewsThorntons profits jump 60% as fmcg focus pays off
Thorntons has announced a 60.4% increase in full-year profits as its pledged to grow its global business to rebalance the company away from UK retail to become an international fmcg firm.
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NewsFyffes and Chiquita postpone shareholder votes
The protracted merger of banana producers Fyffes and Chiquita is no nearer a conclusion after the pair postponed shareholder votes to approve the deal.
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NewsHilton Food Group hit by currency movement and lower meat prices
Meat packing firm Hilton Food Group saw a fall in first half revenues despite rising volumes as currency movement and lower raw material prices took their toll.
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NewsABF weighed down by weak sugar sales
Associated British Foods expects to see improved full-year profits despite “substantially lower” revenues and earnings from its sugar business.
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NewsRed Bull blames economy and competition for falling turnover
The UK arm of Red Bull has laid the blame for a 2.5% drop in turnover last year on “difficult economic and competitive fac…
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NewsDr Oetker back in profit following increased focus on own label
Dr Oetker bounced back into profit in the UK after posting a pre-tax profit of £165,000 compared with a £2.4m loss in 2012…