All Financial Results articles – Page 32
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News
Hovis profits drop as rising costs hit margins
Wrapped bakery stalwart Hovis experienced a sharp drop in profitability last year as soaring costs hit margins despite maintaining its Covid sales gains
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News
CCEP signposts further price rises but stresses focus on affordability
Great Britain Coke bottler Coca-Cola Europacific Partners has indicated it will push through further price rises to mitigate soaring inflation, but insisted it remains focussed on ensuring its products remain affordable
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News
Kellogg’s raises full-year forecasts on better-than-expected first-half performance
Kellogg’s has lifted its full-year sales and profits outlook as strong growth of its global snack brands and a faster-than-expected recovery in cereals combined with higher prices in the first half to deliver a better-than-expected performance.
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News
Beyond Meat to axe 4% of global workforce as losses balloon and sales forecasts are cut back
Beyond Meat has lowered its sales expectations for the year, posted a wider than expected loss for the second quarter and revealed plans to cut 4% of its global workforce
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News
MPM Products sales soar to close to £100m amid pet ownership boom
A boom in pet ownership during the pandemic has helped premium petfood maker MPM Products increase sales to almost £100m in its first year under new PE ownership
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News
City snapshot: Coca-Cola Europacific Partners raises guidance on out of home rebound
GB Coke bottler Coca-Cola Europacific Partners has raised its sales and profits outlook after strong volume-driven first half growth on the back of a strong rebound of out-of-home consumption
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News
City Snapshot: Just Eat Takeaway falls €3.5bn into the red but confident of path towards profitability
Just Eat Takeaway has sunk to a €3.5bn loss in the first half after writing down the value of its embattled Grubhub service in the US, but the food delivery firm said it was making “significant progress” towards profitability.
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Comment and Opinion
Is the cost of living crisis good news for Greggs and its value-led proposition?
Will shoppers trade down to Greggs or will its target audience actually be worse affected?
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News
Oatly shares sour as plant-based group slashes growth expectations
Oatly shares have slumped to a new low as losses widened further and the oat milk giant downgraded sales expectations
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News
City Snapshot: Greggs reports surging sales but profits fall flat amid rising costs
Greggs has reported a 27.1% jump in first half sales, but profits remained stagnant due to the reintroduction of business rates, VAT and mounting costs. Plus, trading updates from AG Barr, Domino’s Pizza Group and Devro.
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News
City Snapshot: Heineken fails to scare off drinkers as sales and profits soar despite higher prices
Sales and profits at Heineken have grown in the high double digits as consumers drank more beer despite prices rising. Plus, a Q1 update from Cranswick and the latest investment from Agronomics.
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News
City News: Diageo revenues soar as drinkers flock back to leisure and travel
Drinkers have toasted the return of the leisure and travel sector by sending Diageo’s revenues soaring
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News
Global giants raise growth targets as prices keep rising
Unilever, Danone, Reckitt Benckiser and Nestlé were among those to report higher-than-expected quarterly sales figures this week
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News
P&G warns of $3.3bn hit in year ahead from rising costs as price hikes help sales growth
Price rises pushed through by Procter & Gamble have helped increase sales at the US consumer products group, but it warned of another year of “significant” headwinds ahead.
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News
City Snapshot: Food and drink reformulation drives Kerry Group sales surge
Kerry Group has posted double-digit first half growth on higher sales volumes and prices as demand for ingredients to drive food and drink reformulation drove increased sales
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News
Yorkshire Tea growth pushes Bettys & Taylors sales past £250m but rising costs hit profits
Elevated demand for Yorkshire Tea and Taylors of Harrogate has pushed revenues at owner Bettys & Taylors Group above a quarter of a billion pounds for the first time, but rising costs dented profits.
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News
City snapshot: Nestlé upgrades sales on pricing and volume growth but margins slip back
Nestlé has upgraded its full year growth expectations as first half sales rose on pricing and volume growth. Plus results from Diageo, AB InBev and Virgin Wines, while Hotel Chocolat’s Japanese JV restructures and Ocado’s COO takes new role.
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News
Whole Foods Market loss widens on Covid and supply chain challenges
The Amazon-owned company, saw gross profit in the year ended 31 December 2021 fall to £35m from £38.2m
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News
Kraft Heinz pushes through price increases to manage inflation
The US group pushed up prices more than 12 percentage points in its second quarter, which helped sales beat Wall Street expectations.
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News
Vimto maker Nichols with ‘encouraging’ growth despite inflationary pressures
The boss of Nichols has hailed the drinks group’s first-half performance in the face of challenging inflationary headwinds, with Vimto making further market share gains and the out-of-home channel moving back above pre-Covid levels for the first time.