Finance news – Page 598
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NewsBirds Eye operating profits rise in spite of horsemeat scandal
Birds Eye shook off the impact of Horsegate to post a 15.8% increase in operating profit last year…
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NewsMetro sells its 9% stake in Booker
German retailer Metro has sold its entire stake in Britain’s biggest cash-and-carry wholesaler Booker for £196m.
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NewsBudgens operator Kavanagh Retailing reports 144% profit hike
Kavanagh Retailing UK has posted full-year pre-tax profits up 144%
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NewsTesco profit warning clatters supermarket shares
The listed UK supermarkets experienced heavy share price falls this morning after Tesco’s shock profit warning.
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NewsSupply chain manager Enterprise Foods in £30m buyout
Supply chain management specialist Enterprise Foods has been bought in a £30m MBO led by its current chairman and backed by private equity firm Hattington Capital.
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NewsPasta Reale falls into administration costing 169 jobs
Pasta Reale has collapsed into administration resulting in the loss of 169 jobs two years after a private equity buyout.
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NewsEmmi cuts earnings forecast after poor trading in Italy
Swiss dairy group Emmi’s shares opened 6% lower this morning after it downgraded its full-year earnings forecast.
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NewsFyffes and Chiquita find new cost savings from proposed merger
Fyffes and Chiquita have announced their proposed merger would generate an additional $20m of annualised cost savings in a bid to convince investors to back the deal.
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NewsMoy Park on course for IPO before the end of the year
Moy Park is already in the “advanced stages” of its IPO preparations and on course to float on the Stock Market…
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NewsPoundland execs decide against bonuses despite successful year
Poundland executives have elected to receive no bonus despite a year of double-digit sales growth and a landmark IPO…
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NewsUnited Biscuits to float on Stock Market this autumn
United Biscuits to join Moy Park in Q4 listing as supplier IPO stampede looms…
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NewsWH Smith short sellers may yet be caught out
A stark split of opinion has emerged in the City over the prospects for WH Smith…
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NewsSymington's reports falling profits amid 'challenging' UK market
Pinched consumers, the cost of promotions and the rise of the discounters have led to slump in full-year profits at Symington’s.
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NewsHeineken beer volumes boosted by the World Cup
Heineken saw overall beer volumes rise 3.1% and a “mid-single digit” figure in the UK as the World Cup and warm weather helped boost first half trading.
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NewsImperial Tobacco reports a 1% slide in global sales
Imperial Tobacco Group said today it remained on course to acquire a range of US cigarette brands as it reported a 1% fall in global revenue for the first nine months of the year.
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NewsTesco Clubcard operator Dunnhumby in predictive data venture
Tesco-owned data group Dunnhumby has taken a 50% stake in Sandtable – a data science company…
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NewsChiquita vows to to press ahead with Fyffes merger
US banana firm Chiquita has rejected a $611m takeover bid and reaffirmed its intention to merge with Irish contemporary Fyffes.
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NewsExecutive pay falls at Diageo as growth slows
Diageo CEO Ivan Menezes earned less in his first year as CEO than he did as chief operating officer as the spirit giant’s revenues were hit by a slowdown in emerging markets.
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NewsTesco needs to cut SKUs to take fight to Asda, claim analysts
Tesco has considerable scope to cut costs by reducing its growing SKU count, analysts at Brewin Dolphin have said…
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NewsMondelez third-quarter results disappoint as Nestlé flourishes
It was a week of diverging fortunes for two of the biggest names in global food – Nestlé and Mondelez…