Finance news – Page 178
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NewsElla’s Kitchen sales rise throughout and in wake of pandemic
Revenues at the brand rose 1.6% to £72.7m in the year ended 30 June 2021.
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NewsCheeky Panda seeks £3m from crowd ahead of IPO
The company, which makes toilet paper, kitchen roll, tissues and baby wipes from bamboo, will publicly launch its latest round on Seedrs on 14 February.
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NewsSpar enjoys ‘buoyant’ sales over Christmas
MD Louise Hoste put the performance down to “the location of stores, a well-stocked range and great availability”
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NewsCity snapshot: SSP Group sales recovery hit by Omicron
Travel food retail specialist SSP Group has reported a “good” start to its financial year, though its recovery in revenues was hit in December and January by the spread of the Omicron variant. Plus, Carlsberg 2021 revenues top pre-Covid sales, UK footfall remains supressed and all the rest of the latest news from the City.
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NewsMedia Bites 4 February: Inflation, Cranswick, Waitrose, Compass, Amazon
The Bank of England has intensified the squeeze on household finances with its first back-to-back interest rate rise since 2004 as the central bank forecast inflation will increase to 7.25% in April.
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NewsCity snapshot: Virgin Wines issues profits warning on rising costs
Online wine merchant Virgin Wines has issued a profits warning due to the ’uncertain trading environment’ and ’increased cost pressures’. Plus Nestle buys US-based plant-based player, updates from Compass Group and Cranswick and all the rest of the latest news from the City
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NewsMedia Bites 3 February: KP Snacks, Nestlé, Tesco, Pret a Manger
KP Snacks has warned there may be a shortage of some of its popular crisps and nuts following a ransomware attack and Nestlé confirms closure of factory near Newcastle.
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NewsCMA launches investigation into Medina-Freshways merger
The Competition & Markets Authority has launched an investigation into the merger of milk processors Freshways and Medina Dairy amid concerns it could lead to a “substantial lessening of competition”
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NewsMedia Bites 2 Feb: Tesco, CO2, Grocery market share
Another 1,600 jobs are being cut at Tesco as Britain’s biggest supermarket scrapped night shifts in 85 shops and almost 40 petrol station
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NewsCity Snapshot: Food price inflation continues to surge in January
Surging food prices have contributed to annual inflation in the retail sector almost doubling in January, according to the latest industry data.
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NewsCity snapshot: UK grocery sales fall in January despite mounting inflation
Take-home grocery figures from Kantar show that supermarket sales fell by 3.8% over the 12 weeks to 23 January 2022, despite prices continuing to rise as inflation mounts
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NewsMedia Bites 1 February: Jack’s/Tesco, CO2, Co-op, Diageo
News of a major shake-up at Tesco makes the headlines this morning.
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NewsDiageo to splash £73m on Guinness microbrewery and ‘culture hub’ in London
The investment demonstrated Diageo’s confidence in London as a tourist destination and its commitment to the hospitality sector, it said
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NewsFood & drink M&A enjoys bumper year in 2021 but inflation could hamper 2022
Deal activity in the UK hit the highest levels recorded for more than a decade in 2021. However, inflationary headwinds look set to hamper dealmaking this year
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NewsMedia Bites 31 Jan: Asda, Price rises, Ocado
Asda has suspended its drawn-out search for a chief executive, with one of the Issa brothers now heavily involved in the day-to-day running of the supermarket chain
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NewsCity Snapshot: Cranswick enters petcare market with Grove Pet Foods acquisition
Cranswick has expanded its reach into the petcare category with the acquisition of UK pet food maker Grove Pet Foods.
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NewsCity News: Unilever prepares for possible upheaval after GSK climbdown
News that activist investor Nelson Peltz is preparing to shake up the beleaguered business set tongues wagging
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NewsCMA launches probe into Boparan’s acquisition of Banham Poultry
Regulators have kicked off an investigation into Ranjit Boparan’s acquisition of Banham Poultry
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NewsInflationary pressure set to lead to an increase in restructuring activity in 2022, warns EY
Supply chain disruption and soaring inflation hit the retail and food & drink industries particularly hard in the latter part of 2021
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NewsHeura sales soar as it expands consumer reach across the globe
Plant-based brand Heura has more than doubled revenues as its growing range reached more consumers across the world