Finance news – Page 98
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NewsCharlie Bigham’s tops £100m sales and snaps up frozen brand By Ruby
Revenues increased 29.2% – or £23.6m – to a record £104.4m in 2020/21 thanks to a legion of new customers trying the brand’s range of meals and puddings throughout lockdown.
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NewsCity snapshot: Diageo sells Archers Peach Schnapps to De Kuyper
De Kuyper Royal Distillers has acquired ‘British icon’ Archers Peach Schnapps from Diageo.
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NewsMedia Bites 9 September: Associated British Foods, Morrisons/McColl’s, Diageo
Coverage in today’s papers is dominated by the death of the Queen but there is still plenty in the way of retail and fmcg news.
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NewsTree of Life owner claims HSBC ‘refused’ to help ease burden
The health food wholesaler experienced a “dramatic” hit to sales caused by the twin shocks of Brexit and Covid, which followed a record year in the 12 months to 31 March 2021 when revenues exceeded £100m.
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NewsJonathan Warburton returns to helm of baker as MD Neil Campbell departs
MD Neil Campbell has left after nine years in charge amid tumultous inflationary market
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NewsCity snapshot: ABF warns on profits as currencies and economic volatility weigh on Primark
ABF has warned its profits next year will be hit by the strength of the US dollar and ‘signficant market voility affecting costs’, which will hit margins at its Primark retail arm.
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NewsMedia Bites 8 September: Ocado Retail, Beavertown, WH Smith
The papers pick up a new CEO for Ocado Retail, Liz Truss’ energy plans, the sale of Beavertown to Heineken and results at WH Smith.
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NewsBoundless Activated Snacking bags six-figure investment to grow gut health brand
Boundless Activated Snacking has secured a six-figure investment to maintain rapid growth at the gut health snacking brand.
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NewsMedia Bites 7 Sep: Juul Labs, National Lottery, DS Smith
Juul Labs must pay $438.5m after a two-year investigation concluded it had advertised vaping products to underage users
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NewsCity Snapshot: Bakkavor sales recover but inflation drags on profits
Bakkavor Group has continued its recovery from pandemic disruption, reporting strong revenue momentum in the first half despite inflationary challenges. Plus, WH Smith issues a pre-close trading update for the year.
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NewsPilgrim’s UK announces proposal to close two factories, putting over 600 jobs at risk
The company has announced plans to close its Bury St Edmunds and Coalville sites and shift production at its Ashton plant to a four-day week
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NewsCity snapshot: UK retail sales slow in August despite rising prices
UK retail sales growth slowed in August, with a small rise in sales making a much larger drop in volumes due to soaring inflation.
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NewsMedia Bites 6 September: Liz Truss, Camelot, Deliveroo
Coverage this morning is dominated by Liz Truss’ victory in the Conservative Party leadership contest.
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NewsHesper Farm Dairy ceases trading as liquidators seek buyer
Yorkshire yogurt maker Hesper Farm Dairy has ceased trading in the face of spiralling costs.
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NewsFruit supplier Jupiter Marketing collapses, leaving almost 100 jobless
Tim Bateson and Chris Pole from insolvency firm Interpath Advisory were appointed as joint administrators to Jupiter Marketing Ltd on 5 September 2022.
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NewsFarm shop openings to be encouraged through £110m rural fund
Local authorities in England will decide how the money is used to support their countryside communities
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NewsPilgrim’s UK sees £16m loss but promises strong recovery
The pork giant reported significant inflation throughout the supply chain and lower pig prices meant results had been negatively impacted
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NewsMedia Bites 5 September: Waitrose, Iceland, Starbucks
Waitrose has admitted to signing deals with landlords halting other supermarkets from opening nearby for a decade
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NewsCity Snapshot: Iceland halts store openings as energy bills soar
Frozen food chain Iceland has put expansion plans on hold and warned of potential store closures as the cost of energy spirals.
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NewsGeary’s warns of impact of soaring energy costs as it returns to growth
Geary’s Bakeries returned to double-digit growth last year, but has warned of the impact of soaring energy costs on top of mounting input inflation last year