Results – Page 24
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NewsCity snapshot: Ocado hikes profits forecast on retail sales surge
Ocado has hiked its full year profits forecast as its UK retail sales continue to boom as grocery shoppers stay at home. Founders and Blackstone bid for Applegreen. Plus, trading updates from McColl’s, Marston’s and DS Smith and all the rest of the latest news from the City.
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NewsCity snapshot: B&Q owner Kingfisher joins flurry of retailers returning business rates relief
Screwfix and B&Q owner Kingfisher has joined the flood of retailers to hand back business rates relief received during the coronavirus pandemic. Plus, a trading update from The Hut Group and Mike Ashley’s Frasers Group confirms Debenhams rescue talks.
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NewsCity snapshot: Second lockdown costs ABF £430m in lost sales
A second wave of coronavirus lockdowns has cost Associated British Foods £430m in lost sales, as Primark stores have closed across Europe. Plus, Pets at Home the latest retailer to pay back business rates relief and all the rest of the latest news from the City.
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NewsCity Snapshot: Sainsbury’s to hand back £440m of business rates relief
Sainsbury’s has joined Tesco and Morrisons in handing back its business rates relief, which will cost the supermarket around £440m
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NewsCity News: Compass Group and Greencore provide reasons for optimism
This year will not be looked back on with any fondness by out-of-home eating specialists
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NewsCity snapshot: Britvic confident in recovery after sales and profits plummet in lockdown
Brtivic’s boss has pledged to be at the forefront of the recovery in a soft drinks category slammed by the coronavirus pandemic after revenues and profits slumped at the group. Plus, PZ Cussons appoints a new CFO.
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NewsCity snapshot: Greencore raises £90m as coronavirus impact drives annual loss
Greencore has raised £90m in a share placement as the impact of the coronavirus outbreak led to a double-digit drop in annual sales and a pre-tax loss of more than £10m. Plus, on the busy morning, trading updates from Cranswick, Compass Group, Pets at Home and all the rest of the latest news from the City.
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NewsCity Snapshot: Danone to cut global SKU count by up to 30%
French food group Danone is to cut its product range by up to 30% in a cost-cutting effort to return to profitable growth in 2021
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NewsCity snapshot: Naked Wines sales soar as consumer discover online wine
First-half revenues at Naked Wines have soared 80% to £157.1m as consumers flocked to online as the coronavirus outbreak hit the UK. Plus Vimto maker Nichols is considering redundancies across its operations as the Covid pandemic continues to hammer the soft drinks market; European supermarket group Ahold Delhaize acquires online US grocer FreshDirect, and a trading update from Finsbury Food Group.
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NewsCity snapshot: Delayed harvests hit revenues at Origin Enterprises
International agri-services group Origin Enterprises has experiences a double-digit revenue drop in the first quarter as delayed harvests hit revenues. Plus, Wynnstay upgrades full year profit expectations, British Land loses £730m and all the rest of the latest news from the City.
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NewsCity snapshot: Profits and sales rise at Imperial Tobacco as lockdowns boost tobacco consumption
Imperial Tobacco has posted a rise in annual sales and profits despite a collapse in duty-free travel sales as coronavirus lockdowns have boosted at home tobacco consumption.
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NewsCity snapshot: Profits soar at EG Group despite fuel sales drop
EG Group, the new owner of Asda, has reported a surge in earnings in the third quarter despite a decline in revenues due to lower fuel sales.
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NewsCity snapshot: Lockdown and Covid costs drive WH Smith to £280m loss
WH Smith has fallen to a £280m loss as the due to the coronavirus-driven closure of stores and a slump in its travel business.
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NewsCity snapshot: Coca-Cola HBC puts fizz back in trading as countries emerge from lockdown
Coke bottler Coca-Cola HBC has reported “strongly” improved trading in the the third quarter as its markets across Europe and Africa reopened, but volumes cotinued to be affected by the ongoing coronavirus pandemic. Plus, grocery tech firm Eagle Eye has signed a five-year agreement with Australian retail chain Woolworths Group, and markets continued to rally yesterday on vaccine hopes.
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NewsCity snapshot: Premier Foods upgrades profits outlook after ‘exceptional’ half
Premier Foods has raised its profit expectations for the year after “exceptionally” strong first-half results as consumers flocked back to its stable of household brands during the coronavirus pandemic. Plus, the latest Kantar and Nielsen supermarket data shows no sign of rampant panic buying after the new lockdown was announced. And the latest BRC-KPMG retail sales report. Finally, a host of food and drink stocks rallied yesterday after the hopeful vaccine announcement by Pfizer.
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NewsCity snapshot: Sainsbury’s sales soar more than expected as UK enters second lockdown
Sales and profits have surged at Sainsbury’s as the country continues to battle the coronavirus pandemic. The group also announced a strategy update, which included the closure of a further 420 Argos standalone stores. Plus, Tate & Lyle and Wincanton report first-half results.
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NewsCity snapshot: Primark closures drive ABF sales and profits plunge despite grocery growth
Associated British Foods has posted a double-digit drop in annual sales and profits as the strong performance of its grocery businesses was unable to fully mitigate the closure of its Primark stores during lockdown.
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NewsCity snapshot: Lower Covid costs boost profits at Groupe Casino
French grocery giant Groupe Casino has posted a rise in sales and earnings in the third quarter as strong performance in Latin American was helped by improved profitability in France as Covid costs reduced. Plus, losses as Tasty mount, Carrefour sells payments arm for €300m and the rest of the latest news from the City.
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NewsCity Snapshot: Coke regains some fizz but future still uncertain
Coca-Cola has slowed its declining revenues in third quarter as easing lockdown restrictions across the world allowed consumers visit cafes and restaurants again. Plus, consumer confidence slumps again in October and the latest figures from the ONS show retail sales grew for the fifth consecutive month in September.
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NewsCity Snapshot: Unilever sales accelerate in Q3 as shoppers keep homes clean in fight against Covid
Unilever has boosted third-quarter sales thanks to shoppers continuing to stock up on Domestos and Cif to battle the coronavirus in thier homes.