latest – Page 29
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NewsCity News: Associated British Foods issues gloomy forecast as Primark is hit by ‘market volatility’
Associated British Foods became one of the first major consumer multinationals to downgrade profit expectations this week, warning its Primark retail business would be hit by the strength of the US dollar and “significant market volatility”
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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: 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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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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NewsThe Original Factory Shop sees profit growth as concessions open in Co-op
The performance in the 12 months to 27 March 2022 was also up on a two-year basis
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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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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
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NewsPlanet Organic sets new store estate target despite losses
Planet Organic is now aiming to open 100 new stores across the UK over the next three years
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NewsArla Foods reports strong first-half results, but warns of downturn ahead
Prices will continue to rise amid soaring on-farm inflation, the dairy co-op has warned
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NewsYo Sushi owner sees sales jump following retail and kiosk push
Yo Sushi owner Snowfox Group saw a near 50% jump in sales last year, driven by its concerted push into grocery retail and in-store kiosks
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NewsCity snapshot: Hain Celestial blames UK economic struggles for sharp drop in sales
US consumer foods giant Hain Celestial has blamed soaring food prices and falling consumer confidence in the UK for a steep drop in full-year revenues
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NewsAsda claims sales going in the right direction despite cost of living crisis
Asda has also expanded its ‘Dropped & Locked’ pricing campaign to include more than 250 products, which will remain for the rest of the year
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NewsIceland’s debt rating downgraded as it slips to annual loss
Iceland’s debt rating has been downgraded by Moody’s as newly filed accounts show the supermarket fell to a pre-tax loss last year
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NewsMoy Park sees near 60% profit slump amid ‘challenging headwinds’
The Northern Ireland-based poultry giant saw operating profit fall by 58.1% (or £50m) to £36.2m in the face of significant cost increases in feed, utilities and labour
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NewsCity snapshot: Inflation drives grocery growth as convenience outstrips supermarket sales
Grocery sales rose 4.5% in the four weeks to 13 August as inflation drove top-line growth despite falling volumes
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NewsUnited Wholesale Scotland posts £4.9m pre-tax profit
UWS said its strong partnership with suppliers and loyal customer base had allowed it to perform strongly in a competitive market
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NewsCrediton Dairy continues to see turnover growth despite challenges
The Devon-based company saw turnover increase by 16.3% to £101.5m while profit before tax was down to £9.6m compared with £9.8m the previous year
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NewsSouth Caernarfon Creameries reports rise in sales and profits
Sales for the year to 31 March rose by 17% to £71.5m, while year-on-year operating profit jumped by 20.6% to £4.1m
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NewsCity News: Carlsberg sales surge but instability concerns weigh on shares
Sales at Carlsberg have soared past pre-pandemic levels as warm summer weather and the resurgent on-trade boosted performance. However, shares remain down for the year due to concerns over its second half outlook and instability in eastern Europe
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NewsCCEP launches sustainability-linked supply chain financing programme
GB Coke bottler Coca-Cola Europacific Partners has launched a new finance programme to encourage suppliers to make their businesses more sustainable