Finance news – Page 76
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NewsCity snapshot: Price hikes mitigate sales volume drop at Nomad Foods
Frozen Foods specialist Nomad Foods grew sales to almost €3bn last year as acquisitions and price growth mitigated a fall in sales volumes
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NewsMedia Bites 24 February: Fruit & veg shortages, ice cream, consumer confidence
The papers are still dominated by the fruit & veg shortages on supermarket shelves.
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NewsCity snapshot: Supermarket Income REIT sees portfolio valuation drop as interest rates bite
Listed supermarket property investor Supermarket Income REIT saw the valuation of its portfolio drop by double digits amid steeply climbing interest rates and wider economic slowdown
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NewsMedia Bites 23 February: Fruit & veg shortages, inflation, Danone
Environment secretary Therese Coffey was booed by farmers after saying UK egg shortages had not been caused by “market failure”, as the country’s biggest supermarket became the latest to ration purchases of some fruit and vegetables.
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NewsShandy Shack sells stake Jeremy Clarkson’s partner
Shandy Shack has sold a minority stake to Jeremy Clarkson’s partner Lisa Bentinck as the craft brewer seeks to deepen commercial ties with Diddly Squat Farm
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NewsMedia Bites 22 Feb: Fruit & veg, Walmart, Finsbury Food Group
Asda and Morrisons are rationing fresh produce including tomatoes, cucumbers and peppers amid shortages caused by poor weather in Europe and north Africa
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NewsCity snapshot: Price rises lift sales at Danone but margins fall on higher costs
Danone has boosted annual revenues on the back of higher prices but soaring costs squeezed the French food group’s profit margins. Plus, a pre-close trading update from Science in Sport.
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NewsPlanet Organic rethinks expansion plans as it reviews sale and financing options
CEO George Dymond told The Grocer the business is in ‘rude health’, but new funding is needed to open new stores and return to profitability
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NewsCity Snapshot: Finsbury Food Group ‘encouraged’ by double-digit first half growth
Finsbury Food Group has posted an ‘encouraging’ first half performance as pricing drove revenue growth and profits were flat as margins reduced due to cost inflation
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NewsMedia Bites 21 February: NFU, fruit & veg, Aldi, Tesco
“Volatility, uncertainty and instability” are endangering UK farm businesses, according to the National Farmers’ Union, which is urging the government to support British food producers so they can keep supplying squeezed UK households and a growing global population.
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NewsMowi announces record year, breaking £1bn in operating profit
The company harvested a total of 446,000 tonnes of fish in 2022, some 4,000 more than guided a year ago
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NewsPetcare group Paramount eyes IPO following acquisitions spree
The owner of Pet Brands and Vital Pet Group has mooted a potential IPO or major fundraise after a spate of acquisitions that move it closer to a £200m sales target
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NewsCity snapshot: BrewDog enters Budweiser China joint venture to fuel Asian expansion
Craft brewer BrewDog has teamed up with Budweiser as part of a major expansion plan in China.
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NewsMedia Bites 20 February: Tesco, BrewDog, Morrisons, Planet Organic
Tesco is to kick off a review of its presence in the UK banking sector - a move that could lead to a sale of the business
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NewsCity News: Nestlé’s promise of improved profitability does little to reassure investors
Nestlé’s guidance towards improved profitability this year did little to ease investor concerns around a sharp underperformance of fourth quarter sales volumes, as well as the impact of ongoing price hikes
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NewsHavabier, Bemuse and Jump Ship turn to crowd to scale no & low brands
Three start-ups in the burgeoning no & low alcohol category have successfully raised almost £1m combined from the crowd
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NewsCity snapshot: Retail sales volumes bounce back in January
Retail sales volumes unexpectedly bounced back into growth in January as sales and promotions boosted shopper activity. Plus Costa Coffee names new CEO
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NewsMedia Bites 17 February: Nestlé, Aldi, Devro, SSP Group
The papers pick up the latest annual results from the world’s biggest food group, Nestlé.
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NewsIFF agrees $220m sale of UK-based Flavour Specialty Ingredients to Exponent
IFF has agreed to offload its UK-based Flavour Specialty Ingredients (FSI) division to private equity firm Exponent in a $220m deal.
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NewsDevro receives revised £562m offer from Saria as Unite plots strike in pay dispute
The revised price will see shareholders receive 320p a share in cash, up from 316.1p, in addition to a second 10p interim dividend.