All Finance articles – Page 21
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News
City snapshot: Vimto appeal boosts Nichols in 2023
Soft drinks group Nichols has hailed a “strong” performance in 2023 as the strength of the Vimto brand in the UK and overseas boosted revenues and profits. Plus, Premier Foods will suspend deficit contribution payments from the 1 April and Science in Sport issues a full-year trading update
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News
Meat snacking brand Ember adds three fmcg big hitters to its board
Tim Rees, Mark Palmer and John McKinley will advise brother founders Jack and Harry Mayhew on the next stage of the brand’s rapid growth
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News
City snapshot: Grocery sales growth slows as food price inflation eases
Supermarket sales growth slowed to 5.3% during February as food price inflation continues to fall. Plus results from Greggs, Bakkavor and all the rest of this morning’s news from the City
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News
Media Bites 5 March: Budget, Caffè Nero, EG Group
The papers focus on tomorrow’s Budget, with M&S boss Stuart Machin hitting out at the tax burden faced by retailers
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News
Grwth Club launches venture fund for fmcg startups
Grwth Ventures is founded by Joe Benn and Jake Higgins with a £5m cornerstone investment from media agency MNC
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News
Sniffers Pet Care scores follow-on funding from PE backer Traditum
Pet treat supplier Sniffers Pet Care has secured an £850k investment to ramp up production at its Yorkshire factory
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News
EG Group sees full-year profits dip as fuel prices fall
Forecourt giant EG Group saw full-year profits dip last year on lower fuel prices and ‘oil volatility’
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News
Kettle Produce continues operating at a loss despite turnover increase
The producer, which saw turnover rise by 10% to £161.7m, from £147m, said loss had continued due to a “range of challenging circumstances”
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News
Media Bites 4 March: Ocado/M&S, Asda, chocolate prices
Are Ocado and M&S running out of road, asks The Times. M&S and Ocado could be heading for dispute over the terms of their JV
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News
City snapshot: Treatt appoints David Shannon as CEO
Drinks ingredients supplier Treatt has appointed Shannon to fill the vacancy left by long-term boss Daemmon Reeve, who stood down at the end of 2023
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News
City News: Reckitt Benckiser shares slump after ‘unsatisfactory’ results
Consumer goods giant Reckitt Benckiser saw its share slump this week as its 2023 sales underperformed City expectations following an “unsatisfactory” fourth quarter.
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Comment and Opinion
Morrisons is the elephant in the room of the M&A scene
Unconfirmed reports this week that Morrisons is exploring the sale of Rathbones are potentially embarrassing to Morrisons and to CEO Rami Baitiéh if true
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News
Aldi salad supplier UK Salads appoints administrators
The Aldi salad supplier has appointed administrators, with The Grocer understanding that unsecured creditors will be owed as much as £10m
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Analysis and Features
When will the price be right to get deal volumes moving?
Newlat’s exit from Princes takeover talks reflects a market in which deals are not getting done. What’s stalling activity, and will it pick up?
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News
Nomad Foods predicts 2024 volume growth as frozen trend rebounds
The Birds Eye owner has surpassed expectations with a record financial performance last year, with the frozen foods giant forecasting a return to volume growth in 2024
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News
City snapshot: Wincanton recommends new £762m offer from GXO
The board of British logistics giant Wincanton have recommended shareholders accept the new offer £764m from GXO after the US business gazumped French rival Ceva
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News
Media Bites 1 March: Sainsbury’s, Ocado, Asda, UPF, Bud Light
In a busy morning of F&B news, the papers focus on job cuts at Sainsbury’s and a growing rift between Ocado and M&S
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News
Heura turnover boosted by Waitrose listing in 2023
Plant-based brand Heura has boosted turnover by more than 20% to €38.3m (£32.8m) in 2023, helped by growth of 81% in the UK as its listing in Waitrose bolstered the Spanish-headquartered business
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News
Jollyes appoints Andy Bond as chairman as Asda co-owner TDR Capital takes majority stake
Asda’s PE backer TDR Capital has taken control of fast-growing petcare retail chain Jollyes, bringing in Andy Bond as chairman
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News
City snapshot: Ocado remains in the red despite revenue rise
Ocado posted a £394m annual loss last year, despite a 9.9% rise in revenues as the cost of technology and rolling out its operations internationally continue to weigh on its bottom line