Finance news – Page 167
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NewsCity snapshot: C&C Group profits rise despite ‘challenging trading backdrop’
Drinks supplier C&C Group has announced its full year profits will be in line with revised expectations and it will recommence dividend payments despite a ‘challenging trading backdrop’
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NewsMedia Bites 23 March: John Lewis, Fever-Tree, inflation
John Lewis keeps making headlines amid reports of its plan to sell a minority stake.
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NewsSalad shortages fuels surprise jump in inflation as food prices soar 18%
Food price inflation has hit a 45-year high of 18% amid shortages of fruit and vegetables, according to the latest data out this morning
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NewsMedia Bites 22 March: Just Eat, Tesco/Clubcard, John Lewis
Just Eat Takeaway will stop employing its own workers in the UK, as it reverses a high-profile effort to reduce reliance on the gig economy
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NewsCity snapshot: Fever-Tree profits hit by soaring inflation as UK sales fall
Profits have declined at Fever-Tree as inflationary pressures squeezed margins and sales in the UK market shrank as consumers cut back spending to cope with the cost-of-living crisis. Plus, surprise jump in UK inflation as veg shortages push food prices 18% higher.
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NewsDelevingne sisters’ Della Vite secures investment from La Hechicera founders
Della Vite, launched by Chloe, Poppy and Cara Delevingne in 2020, secured more than £3m in an investment round led by the founders of premium rum brand La Hechicera
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NewsCity snapshot: British Honey Co calls in administrators
Listed producer of honey and spirits British Honey Co has announced its intention to appoint administrators following the failure to raise critical funds
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NewsMedia Bites 21 March: John Lewis, Amazon, Magnum
John Lewis remains firmly in the headlines this morning as the papers weigh up what comes next for the retailer.
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NewsNice nears £1m in crowdfunding round to boost wine-on-tap offering
The canned wine startup has raised almost £1m from the crowd to boost the on-trade channel and invest in NPD
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NewsCity snapshot: John Lewis Partnership considers changes to employee-owned structure
The John Lewis Partnership is weighing up plans to dilute its 100% employee ownership in a bid to raise new investment in the face of difficult trading
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NewsMedia Bites 20 March: John Lewis Partnership, Princes Foods, THG
Speculation was rife over the future of John Lewis at the weekend, with reports suggesting it may dilute its 100% employee ownership to raise fresh investment
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NewsCity News: City harbours doubts over Deliveroo’s profitability progress
Deliveroo trumpeted it had made “excellent progress” on the path to profitability this week. However, concerns persist in the City over its ability to turn market share into profits amid tightening consumer spending
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NewsKTC snaps up Scottish margarine manufacturer Cardowan Creameries
The deal strengthened the private equity-backed group’s value-added processing capabilities and broadened the product offering, KTC said.
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NewsElla’s Kitchen growth soars as babyfood sector bounces back
Revenues soared 17.9% to £85.8m in the year ended 30 June 2022, according to newly filed accounts.
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NewsCity snapshot: Carlsberg names new CEO to replace retiring Cees ’t Hart
Danish brewing giant Carlsberg hired an external candidate, Jacob Aarup-Andersen, to replace Cees ’t Hart as CEO. Plus, Aldi increases store staff pay, Unilever restarts share buyback scheme and all the rest of the latest news from the City
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NewsMedia Bites 17 March: John Lewis, Deliveroo
The annual John Lewis results take centre stage in the business pages today, with room for Deliveroo as well.
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NewsWaitrose to expand convenience network amid declining online sales
Waitrose saw sales fall 3% to £7.3bn in the 12 months to 28 January, driven entirely by declining online sales
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NewsBrakes losses reduced to £57.2m after post-pandemic recovery
Newly filed accounts for Brake Bros, which include its parent company Sysco’s operations in Sweden and France, showed pre-tax losses had reduced by £161m
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NewsCity snapshot: John Lewis Partnership swings to £234m loss as it warns of job cuts
The John Lewis Partnership has plunged to a £234m loss on property writedowns and a drop in core profitability at both retail brands, while warning of future job cuts and declining to pay a staff bonus
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NewsMedia Bites 16 March: Budget, John Lewis, British American Tobacco
The Budget dominates the papers today, but there is plenty of coverage for John Lewis’ first-ever appointment of a CEO.