Finance news – Page 168
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NewsTesco profits soar but supermarket warns over battle to keep prices low as inflation rages
Profits at Tesco have soared £1.4bn higher as sales increased over the past year, but it warned the bottom line would come under pressure in 2022
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NewsMedia Bites 13 April: Imperial Brands, Deliveroo, National Lottery
US regulators have banned Imperial Brands’ myblu vaping device after a review found there was a lack of evidence they would protect public health
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NewsCity Snapshot: Tesco profits soar as boss Ken Murphy vows to keep cost of weekly shop in check
Tesco profits soared £1.4bn higher as sales increased, but the supermarket giant warned its bottom line would come under pressure in 2022 as it battled to keep prices low.
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NewsMorrisons hit with credit downgrade over debt concerns following CD&R takeover
Plans to refinance Morrisons multibillion-pound debt pile have been dealt a blow as Moody’s downgraded the supermarket’s credit rating
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NewsCabrito turns to crowd to fund efforts to bring goat meat to supermarket shelves
Cabrito Goat Meat sources young goats from British dairy farms, rears them for meat and then supplies it to restaurants, butchers and catering firms, as well as the public on a DTC site.
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NewsBart Ingredients opens £15m factory in Bristol to boost growth
Bart Ingredients CEO David Collard said the new factory opening was a ‘major milestone’ for the business
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NewsJempson’s sales dip 1.2% but ‘holds on’ to majority of growth gained in pandemic
During the year to June 2021 the company made two bonus payments to all employee
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NewsCity snapshot: Deliveroo posts double-digit first quarter growth against 2021 lockdowns
Deliveroo posted double-digit growth in its first quarter despite benefitting from Covid lockdowns last year, although spend per order fell. Plus retail growth slows in March, Parsley Box targets recovery from “tough” year and all the rest of the latest news from the City.
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NewsMedia Bites 12 April: Waitrose, Morrisons, Pret a Manger, M&S
Waitrose has been left £4m out of pocket through its brief tie-up with an insolvent venture set up by one of Ocado’s founders.
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NewsIRCA ingredients firm sold by Carlye to Advent International
The group suppliers a range of customers such as patisseries, gelato parlours, hotels, restaurants and confectionery manufacturers with specialty ingredients for artisanal pastries, cakes and ice cream.
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NewsCity Snapshot: Treatt flags higher margin forecasts for H2 as momentum continues
Revenues at the group increased 9% to £66.3m in the first half to 31 March, driven by its expertise in citrus, its largest category, Treatt said in a trading update.
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NewsMedia Bites 11 April: Boots, inflation, Pret a Manger, Asda
The American owner of Boots risks losing billions after the one-time favourite to buy the chemist chain valued the retailer at a steep discount.
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NewsCity snapshot: Retail footfall sees gradual improvement in March
UK footfall continued to rebound in March as consumer behaviour stabilises after Covid restrictions, but shopper numbers remain well down on pre-Covid levels
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NewsMedia Bites 8 April: Co-op, Morrisons, Ferrero
The new boss of the Co-operative Group is braced for further “shocks” after a tumultuous year during which profits were hit by disruption to its supply chain that coincided with a systems upgrade in its grocery business.
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NewsNeyba seeks £15m to expand grocery restaurant hybrid across London
Neighbourhood grocery and restaurant start-up Neyba is looking to raise £15m as part of an expansion plan.
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NewsMcColl’s shares surge 70% higher as c-store chain remains locked in talks with lenders
Embattled convenience store retailer McColl’s has said it knows of no reason for a sudden surge in its share price today.
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NewsCity snapshot: Waitrose and Deliveroo extend partnership to 70 more stores
Waitrose and Deliveroo are expanding their partnership to meet ’strong customer demand’ by adding more than 70 new Waitrose locations by the summer
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NewsMedia Bites 7 April: inflation, Kinder Surprise, Amazon
Chronic worker shortages in the food and farming sector as a result of Brexit and the coronavirus pandemic could push food prices even higher and lead to more food having to be imported, MPs have warned.
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NewsHolland & Barrett debt payment cleared following Russian sanction concerns
The interest payment on a €415m loan taken by the health and wellness retailer had been held up by HSBC
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NewsRemeo Gelato eyes expansion after securing fresh capital
As part of the raise, Remeo appointed Nando’s grocery CEO Georg Gruber as executive chairman of the board