latest – Page 9
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City snapshot: Kerry Group sales fall after ‘challenging’ 2023
Irish dairy and nutrition producer Kerry Group has posted an 8.6% drop in sales as disposals and challenging conditions for its dairy business hit headline revenues
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Kraft Heinz net sales slow in fourth quarter as sales volumes drop
Kraft Heinz saw net sales decline in the final quarter of the year as a drop in sales volumes outstripped price rises in the period
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Coca-Cola boosted by high prices but volumes come under pressure
Coca-Cola has beaten market expectations as higher prices continued to help the drinks giant to boost revenues. However, volumes declined in its domestic North American market in 2023
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City snapshot: Food prices fall for first time in more than two years
Food prices have fallen for the first time in more than two years as inflation in the sector continued to ease. Plus, full-year results from Heineken and Coca-Cola HBC
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City snapshot: Ultimate Products sales dip as air fryer craze dissipates
Homeware and household brands owner Ultimate Products has seen a fall in sales in its first half of its financial year as it laps “exceptionally strong demand” for air fryers last year
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William Jackson Food Group back in profit after MyFresh exit
William Jackson Food Group grew sales and moved back into the black last year, despite the cost of living crisis and a drop in online grocery shopping
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City snapshot: Unilever returns to volume growth but performance remains ‘disappointing’
Unilever returned to volume growth last year as price increases decelerated, but new boss Hein Schumacher said the group’s competitiveness remained “disappointing”
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Hain Celestial lowers 2024 forecasts as it struggles with turnaround
Hain Celestial has downgraded its sales and profits forecasts for 2024 as the owner of Ella’s Kitchen, Covent Garden and Sun-Pat continues with its turnaround strategy
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City snapshot: Sainsbury’s targets £1bn in savings as it launches ‘Next Level Sainsbury’s’ strategy
Sainsbury’s is targeting £1bn in cost savings over the next three years as part of its new strategy launch this morning. Plus, PZ Cussons issues a profits warning and Just Eat Takeaway appoints new CFO.
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Morrisons store boss Lepley leaves as Baitiéh promises ‘a new chapter’
Lepley, who replaced Gary Mills in his current role, spent 11 years at Asda before joining Morrisons, and served on the supermarket’s executive committee
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City News: Diageo’s woes continue as Latin America sales plunge
Diageo’s woes across the Atlantic continued this week, as second-half results were hit by a plunge in sales in Latin America and a continued slowdown in North America
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Morrisons boss Rami Baitiéh claims ‘strong progress’ as forecourt sell-off dominates Q4 results
Rami Baitiéh today claimed the supermarket had made “strong progress” in its fightback after announcing like-for-like sales for the year were up by 1.8%
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City snapshot: Gusbourne narrows losses despite challenging second half
English sparkling wine producer Gusbourne has narrowed underlying losses as it cut costs and continued to grow sales.
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ABF shares rise on back of strong growth in food and sugar
Shares of food and retail conglomerate Associated British Foods rose this week on the back of solid growth in its food and sugar arms
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City snapshot: Travel recovery boosts WH Smith
WH Smith grew revenues in the second half of last year as the global travel market continues to recover and it expands its number of airport outlets
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City snapshot: US growth boosts Fever-Tree despite UK sales stagnation
Fever-Tree has posted annual growth of 6% despite a stagnation of UK sales as it doubled profits in the second half of 2023
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City snapshot: Premier Foods sales jump after ‘biggest ever’ Christmas
Premier Foods posted strong double-digit growth in its third quarter, boosted by its “biggest ever Christmas” and significant market share gains. Plus updates from ABF, Chappel Down and Marston’s.
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City snapshot: Virgin Wines celebrates ‘good’ Christmas
Virgin Wines UK has hailed a “good” Christmas and revealed a “significant” improvement in profitability during its first half. Plus, catering giant Compass has agreed a £475m deal to acquire hospitality firm CH&CO
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City news: Ocado shares under pressure despite ‘record’ Christmas
Ocado Retail’s return to double-digit growth, a “record” Christmas and – most notably – a move back into the black were all good news this week.
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Vibrant Foods back in growth as transformation takes effect
World foods specialist Vibrant Foods is back in growth following a £30m refinancing