All articles by Alec Mattinson – Page 53
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NewsMorrisons warns on impact of inflation and ‘geopolitical environment’
Private equity owned Morrisons has warned its profits will come under pressure from mounting inflation and the situation in Ukraine.
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NewsUpfield UK bounces back into profit but warns on plant oil prices
The UK arm of Flora owner Upfield bounced back into profit in its first year of separation from former owner Unilever, but warned over the impact of soaring plant oil prices
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NewsKerry Group suspends operations in Russia and Belarus
Irish nutrition company Kerry Group has suspended its operations in Russia and Belarus following Russia’s invasion of Ukraine
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NewsMedia Bites 4 April: Boots, Lottery, M&S/Ocado
The American owner of Boots has offered to retain a stake of up to 30% in the pharmacy chain to smooth the path towards a £7bn sale
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NewsIPN revenues hit £120m following CapVest deal
Inspired Pet Nutrition, the UK’s largest manufacturer of dry petfood, saw further double-digit growth last year as it was snapped up by the private equity player
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NewsCity News: AG Barr propelled above pre-Covid levels as hospitality reopened
The resurgence of the leisure sector and out-of-home consumption helped propel Irn-Bru maker AG Barr back above pre-Covid levels
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NewsDiscounters win share from big four as shoppers prioritise value
The discounters are once again rapidly taking market share from mainstream grocers as soaring food prices push consumers to prioritise value and own-label products
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NewsHuel mulls IPO as it passes £100m sales mark
Revenues have jumped 43% as demand for the brand’s “nutritionally complete, sustainable food” rocketed
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NewsCity snapshot: Diageo buys US flavoured tequila brand 21Seeds
Diageo has acquired US flavoured tequila brand 21Seeds to boost its portfolio of high growth brands
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NewsMedia Bites 1 April: Eggs, Lottery, Boots
Hundreds of UK egg farms are at risk of collapse after surging input costs were pushed up still further by Russia’s invasion of Ukraine
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NewsCity snapshot: Tate & Lyle to acquire Chinese dietary fibre business for US$237m
Tate & Lyle has signed an agreement to acquire Quantum Hi-Tech (Guangdong) Biological Co, a prebiotic dietary fibre business in China for US$237m (£180m).
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NewsMedia Bites 31 March: Holland & Barrett, Starbucks, Deliveroo
Holland & Barrett has been left in limbo over a crucial debt payment held up by HSBC given the bank’s concerns about links to Russian oligarchs on the sanctions list
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NewsCity snapshot: Huel sales pass £100m on surging global growth
Plant-based meals brand Huel saw revenues top £100m last year amid strong growth in the UK and its international business
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NewsMedia Bites 30 March: Grocery market share, AG Barr, Tesco
Food price inflation has hit its highest level in almost a decade, suggesting that the squeeze on household incomes may be even tighter than previously thought
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NewsCity snapshot: Grocery sales fall back amid soaring inflation
Take home grocery sales have slumped by 6.3% in the 12 weeks to 20 March as inflation hit its highest level for a decade, according to the latest market share data from Kantar. Plus AG Barr bounces back to top pre-pandemic results and all the rest of the latest news from the City.
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NewsMedia Bites 29 March: Asda, Heineken/Carlsberg, Cadbury
Profits at Asda doubled last year as the supermarket chain announced that it would be launching a new value range of groceries with a similar name to Waitrose’s cut-price line
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NewsCarlsberg to sell Russia’s biggest brewer Baltika
Danish brewing giant Carlsberg is to dispose of its Russian arm, where it is currently the market leading brewer in the country
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NewsHeineken to dispose of its Russian business and take €400m hit
Global brewer Heineken has announced it will dispose of its Russian business and leave the country due to its war on Ukraine.
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NewsCity snapshot: Investors call on Sainsbury’s to pay living wage
An investor coalition managing £2.2trn in funds has filed a shareholder resolution to demand Sainsbury’s to pay a living wage to all its workers. Plus, Heineken to pull out of Russia and take €400m writedown and all the rest of the latest news from the City.
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NewsMedia Bites 28 March: Boots, Sainsbury’s, UK retail sales
Four private equity firms are understood to have given presentations to Boots’ management team and submit second round offers in the coming weeks