Finance news – Page 157
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NewsCity snapshot: Rémy Cointreau reports profits rise but warns of US slowdown
Rémy Cointreau has reported a double-digit jump in sale and profits last year, but warned sales growth will be wiped out in the current financial year by a sharp slowdown of consumption in the US
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NewsMedia Bites 1 June: Iceland, price cap, inflation, petrol prices, B&M, WH Smith
There’s plenty of variety in this morning’s papers when it comes to fmcg stories.
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NewsSerious Sweets acquires rock maker John Bull Confectioners
Serious Sweets has continued on the acquisition trail, having bought premium marshmallow brand Mallow & Marsh in February
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NewsGovernment declared ‘not fit for purpose’ over price cap plan
Supermarket and supplier bosses are understood to be fuming over the plans, which were leaked to the Daily Telegraph at the weekend
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NewsMedia Bites 31 May: Asda/EG Group, price caps, Unilever
The billionaire Issa brothers have agreed to sell EG Group’s UK and Ireland petrol and forecourt operations to Asda in deal that will add £770m in new loans to the business empire’s heavy debts
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NewsCity snapshot: B&M boosted by price-conscious shoppers
Revenues at B&M have jumped 6.6% to £5bn as cost-conscious shoppers turned to discounters to help manage the cost-of-living crisis. Plus, the latest NIQ supermarket till roll data, and trading updates from WH Smith and Bakkavor.
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NewsMeatless Farm hires Kroll to save its plant-based skin
The Leeds-headquartered business has hired advisors at the restructuring and insolvency specialist to run an early options process in a bid to save the brand
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NewsCity snapshot: Asda confirms £2.27bn acquisition of EG Group UK and Ireland
Asda has announced it has agreed to buy EG Group’s UK and Ireland operations for an enterprise value of £2.27bn
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NewsMedia Bites 30 May: Asda/EG, food price cap, inflation, Waitrose
Coverage of the merger of Asda and EG Group continued over the bank holiday weekend, alongside news of a proposal for a voluntary price cap for staple food items in supermarkets.
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NewsBettys & Taylors hit by soaring tea and coffee supply costs
Yorkshire Tea supplier Bettys & Taylors recorded a slowdown in growth last year and profits hit by soaring costs in its tea and coffee supply chain
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NewsM&S impresses City as ‘longest’ turnaround gathers momentum
Marks & Spencer shares jumped to 15-month highs this week on evidence it is finally emerging from what has been dubbed the ’longest turnaround in corporate history’
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NewsJude’s ice cream exploring finance options for growth
Independent corporate finance firm Spayne Lindsay has been charged with looking at options including sale and investment
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NewsCity snapshot: UK retail sales bounce back in April
UK retail sales volumes have bounced back to growth of 0.5% in April, following a fall of 1.2%
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NewsMedia Bites 26 May: Asda/EG Group, John Allan, Tate & Lyle, Fever-Tree
Reports of an impending merger of Asda and EG Group make headlines this morning, and John Allan gives an exclusive interview defending himself.
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NewsIncredo raises $30m to back sugar binding technology growth
Incredo Sugar, formerly known as DouxMatok, purports to be able to reduce sugars used in sweet foods by 30%-50%
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NewsHeura smashes through crowdfunding target
The Spanish firm comfortably beat its latest €1m target on the Crowdcube platform, with €2.6m secure in the campaign’s first 48 hours.
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NewsCity snapshot: Pets at Home posts record sales but margins shrink
Retail group Pets at Home posted record revenues of more than £1.4bn last year, but margins were hit by rising costs and energy prices. Plus trading updates from Fever-Tree and Tate & Lyle
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NewsMedia Bites 25 May: M&S, inflation, C&C Group
The long-awaited turnaround at M&S generates headlines across all the papers this morning, along with news of stubbornly high food prices.
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NewsIngredients supplier Kiril Mischeff acquires Good Food Wines
Kiril Mischeff said the acquisition would allow it to capitalise on “significant” revenue synergies thanks to the complementary product portfolios of the two businesses
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NewsMedia Bites 24 May: Food price inflation, SSP Group, Ocado
Britain’s food manufacturers have rejected government claims that they are stoking inflation