Finance news – Page 204
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NewsGreencore sales bounce back as food to go recovers
Greencore has posted “strong revenue momentum” in its third quarter, with group pro forma revenue 53.1% above prior year levels and only 2.8% below equivalent pre-COVID levels in the same quarter of 2019
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NewsReckitt warns rising costs will eat into 2021 margins
Reckitt Benckiser has posted a drop in first half profitability as mounting costs hit margins and revenues declined due to tough year-on-year comparisons
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NewsCity snapshot: July grocery sales rebound thanks to summer sport and warm weather
Grocery sales improved in the four weeks to July 17 as trading was boosted by better weather and the summer sports events, according to the latest figures from NielsenIQ. Plus, Reckitt’s profits plunge as costs add up, Greencore’s food to go rebounds and all the latest news from the City.
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NewsPlant-based nutrition brand Pulsin acquired by VC firm S-Ventures
Pulsin makes a wide range of protein, keto, high-fibre and oat snack bars, as well as protein powders and shakes, under its own brand and for third parties.
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NewsMedia Bites 27 July: Pingdemic, Just Eat Takeaway, Cranswick
Christmas shopping risks being ruined by a shortage of lorry drivers caused by Covid restrictions and the migration of foreign staff.
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NewsMedia Bites 26 July: Pingdemic, Morrisons, Philip Morris
An emergency government plan to prevent the spiralling “pingdemic” from hitting food supplies has descended into chaos
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NewsCity Snapshot: Positive start for Cranswick on strong meat demand in supermarkets
Meat producer Cranswick has continued to benefit from strong demand in supermarkets over the summer, as well as the beginnings of a recovery for food-to-go and foodservice sales as Covid-19 restrictions eased further.
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NewsInc Retail picks up major stake in Gut Instinct
The plant-based products maker has sold a 42% stake to Inc Retail
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NewsCheeky Panda lines up £300m IPO and eyes major player status
CEO Chris Forbes said he expected Cheeky Panda to grow large enough to compete with the biggest players in the household paper category
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NewsUnilever and Fever-Tree feel weight of mounting costs
Unilever on Thursday warned mounting costs would leave full-year margins flat even as it outstripped City expectations
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NewsCity snapshot: Premier Foods forecasts profits at top end of expectations after ‘encouraging’ start to year
Premier Foods’ first quarter sales were at the ’top end of expectations’ despite falling back 13.2% year-on-year
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NewsMedia Bites 23 July: Pingdemic, Morrisons, Unilever
Supermarket depot workers and food manufacturers will be exempt from quarantine rules as the government tries to prevent food supply problems
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NewsEmber to ramp up campaign against factory farming as it hits £800k crowdfunding target
Founded three years ago by brothers Harry and Jack Mayhew, the business has currently raised £945,000 from 244 investors, including ASOS CEO Nick Beighton, with the Seedrs round closing next week.
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NewsCity snapshot: Unilever warns over rising costs despite strong growth
Unilever has posted stronger than expected second quarter underlying sales growth of 5%, but warned mounting cost inflation will hit margin growth
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NewsMedia Bites 22 July: Pingdemic, M&S, BrewDog, Asda
Supermarkets apologised for empty shelves in stores yesterday amid warnings that the “pingdemic” was putting a strain on supply chains.
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NewsCoca-Cola ups guidance on strong second quarter rebound
Soft drinks giant Coca-Cola has upped its full year guidance as sales roared back in its second quarter as coronavirus restrictions have eased across the globe
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NewsMomentum gathers at Vimto owner Nichols as lockdown ends
Vimto maker Nichols is seeing good momentum returning to its out-of-home business thanks to the easing of lockdown restrictions, hot weather and demand driven by England’s performance at the delayed Euro 2020.
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NewsStruggling Typhoo Tea ‘secures major investment’ in private equity deal
Private equity investor Zetland Capital has taken a majority stake in Typhoo Tea as the brand battles to turn around years of losses and the structural downturn of the black tea market
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NewsWilton London passes £400k funding target
Wilton plans to use the funds to support new product and team development as well as acquisition marketing to bolster its e-commerce offering
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NewsMedia Bites 21 July: Morrisons, Fever-Tree, Grocery market share
US private equity firm Clayton Dubilier & Rice is working on another bid for Morrisons in a sign that the battle to buy the supermarket chain is far from over