Finance news – Page 73
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NewsElla’s Kitchen growth soars as babyfood sector bounces back
Revenues soared 17.9% to £85.8m in the year ended 30 June 2022, according to newly filed accounts.
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NewsCity snapshot: Carlsberg names new CEO to replace retiring Cees ’t Hart
Danish brewing giant Carlsberg hired an external candidate, Jacob Aarup-Andersen, to replace Cees ’t Hart as CEO. Plus, Aldi increases store staff pay, Unilever restarts share buyback scheme and all the rest of the latest news from the City
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NewsMedia Bites 17 March: John Lewis, Deliveroo
The annual John Lewis results take centre stage in the business pages today, with room for Deliveroo as well.
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NewsWaitrose to expand convenience network amid declining online sales
Waitrose saw sales fall 3% to £7.3bn in the 12 months to 28 January, driven entirely by declining online sales
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NewsBrakes losses reduced to £57.2m after post-pandemic recovery
Newly filed accounts for Brake Bros, which include its parent company Sysco’s operations in Sweden and France, showed pre-tax losses had reduced by £161m
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NewsCity snapshot: John Lewis Partnership swings to £234m loss as it warns of job cuts
The John Lewis Partnership has plunged to a £234m loss on property writedowns and a drop in core profitability at both retail brands, while warning of future job cuts and declining to pay a staff bonus
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NewsMedia Bites 16 March: Budget, John Lewis, British American Tobacco
The Budget dominates the papers today, but there is plenty of coverage for John Lewis’ first-ever appointment of a CEO.
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NewsOatly shares surge on profitability promises and better end to 2022 than expected
Shares in Oatly have surged thanks to better-than-expected annual figures, promises of a future profit and $425m of new financing. CEO Toni Petersson said the group was ”well-positioned to start playing offence in 2023”.
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NewsSteven Bartlett’s Flight Fund invests $2.5m in personalised nutrition player Zoe
Dragons’ Den star Steven Bartlett has made a $2.5m (£2.1m) investment in personalised nutrition specialist Zoe via his newly launched $100m Flight Fund investment vehicle
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NewsMedia Bites 15 March: Asda/Co-op, Tesco, Sainsbury’s
Asda’s £600m takeover of the Co-op’s petrol forecourts could raise prices or lead to less choice, the competition watchdog has warned
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NewsCity snapshot: Vape maker Supreme sells IP of e-liquid brand T-Juice to La Vape Professional Distribution
Vape manufacturer Supreme has agreed to sell the intellectual property of premium e-cig liquid brand T-Juice to a French wholesaler for €4.5m.
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NewsOcean Saver plots ambitious grocery growth plan as it cleans up second crowd round
Sustainable cleaning challenger brand Ocean Saver has returned to the crowd as it seeks to double the size of its grocery business.
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NewsCity snapshot: Virgin Wines launches ‘full business review’ after sales and profits plunge
Online wine merchant Virgin Wines has launched a ‘full business review’ as pressure on consumer spending hit first half sales and profits. Plus, Sainsbury’s buys £430m property portfolio and Eagle Eye upgrades earnings expectations
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NewsMedia Bites 14 March: Silicon Valley Bank, John Lewis, inflation
The fallout from the failure of Silicon Valley Bank dominates front pages as well as the business sections of today’s papers.
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NewsM&S chief says spring budget should pause incoming regulation for retail
‘We would ask for no further legislative burden acting as a drag on business from unnecessary taxes or regulation,’ said Machin
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NewsDunbia picks up Jasper family lamb abattoir in Cornwall
Red meat processor Dunbia has expanded its West Country presence with the acquisition of a lamb processing site in Cornwall
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NewsScrumbles wins BGF backing to grow natural pet food brand
Natural pet food brand Scrumbles has secured a £6m investment from the BGF to continue its omni-channel growth strategy.
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NewsCity snapshot: Naked Wines seeks new financing partner following Silicon Valley Bank failure
Naked Wines is searching for a new financing partner following the collapse of Silicon Valley Bank, but the wine delivery firm said this morning its day-to-day operations remained unaffected by the situation.
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NewsMedia Bites 13 March: Tesco, Fever-Tree, Scrumbles, greedflation
Suppliers have hit back at Tesco over fees to sell produce online, warning that new fees imposed by Tesco could put them out of business
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NewsCity News: Greggs shares under pressure as stubborn inflation eats into profits
It was mixed picture for Greggs this week as the high street bakery chain revealed a 23% jump in 2022 revenues to £1.5bn but a mere 1.9% increase in pre-tax profits to £148.3m as soaring inflation ate into the bottom line.