Finance news – Page 234
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NewsMedia Bites 15 November: Boots, Johnson & Johnson, THG, M&S
Speculation is building around a potential sale of Boots, while under pressure THG remains in the spotlight.
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NewsAnother M&S profit forecast hike earns the City’s confidence
Shares in M&S rocketed to two-year highs this week, after the second profit forecast hike of the year helped convince the City of its latest attempt to turn around fortunes
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NewsMowi Scotland profits hit by poor fish health and price deflation
The Scottish arm of Norwegian salmon giant Mowi also saw turnover fall last year
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NewsMedia Bites 12 November: Growth slowdown, WH Smith results, Christmas ads
Economic growth slowed dramatically in the third quarter, new ONS figures show
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NewsCity Snapshot: Hilton becomes the second biggest UK food and drink supplier
Big protein players muscle up supplier rankings with Hilton up to second place behind ABF
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NewsNomadic Dairy acquired by Irish investors in €29m deal
BiaVest will hold 54% of the County Donegal-based producer, while Development Capital have taken the remaining share.
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NewsCity snapshot: WH Smith eyes return to profit after Covid travel disruption drives £116m loss
WH Smith is targeting a return to “meaningful” profit growth and pre-Covid sales levels in its current financial year after suffering a £116m loss due to reduced trade at its growing travel network as a result of the pandemic.
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NewsMedia Bites 11 November: M&S, Walkers, US inflation, JD Wetherspoon
M&S was firmly in focus this morning after it lifted profit forecasts in an upbeat set of half-year results.
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NewsGlanbia exits milk category to focus on core business
Glanbia is set to exit the dairy sector to focus on growing its core ingredients and nutrition divisions after agreeing a deal to sell its 40% stake in Ireland’s biggest milk processor.
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NewsMedia Bites 10 Nov: ABF/Primark, Grocery market share, Philip Morris
The boss of Associated British Foods underlined his confidence in Primark’s bricks-and-mortar strategy and said it would not raise prices despite supply chain pressures
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NewsCity Snapshot: M&S lifts profits forecast as turnaround picks up pace
Marks & Spencer has upgraded its expectations for the year for the second time as its sales and profits leapt ahead of pre-pandemic figures.
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NewsFeragaia secures backing from Danish billionaire Anders Povlsen
Based in Fife, the business was founded in 2019 by Jamie Wild and Bill Garnock, formerly of Pernod Ricard and Edrington Americas respectively.
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NewsFodaBox attracts multimillion-pound PE investment
Logistical services provider FodaBox has secured £2.1m in private equity backing to help expand the business.
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NewsCity snapshot: Grocery sales fall as shoppers stay away from stores
Grocery sales fell by 1.9% in the three months to the end of October as consumer shopping behaviour stabilises post pandemic. Plus food sales mitigate Primark sales drop at ABF, CCEP sees strong GB recovery and all the rest of the latest news from the City.
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NewsMedia Bites 9 November: THG, Coca-Cola, retail sales
The City’s financial watchdog is understood to be reviewing trading volumes in THG after comments made by boss Matt Moulding last week during trading hours could have been interpreted as market-sensitive information.
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NewsTesco’s pension scheme investments to become net zero by 2050
The two retirement schemes have over 345,000 members and more than £24bn in assets
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NewsCMA launches investigation into Ranjit Boparan’s acquisition of Banham Poultry
The founder of 2 Sisters Food Group struck an agreement to acquire the Norfolk-based chicken processor through his private family office last month
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NewsCity Snapshot: Cake Box profits boom as it grows estate
Profits have more than doubled at Cake Box as customers flooded back to its stores after the end of lockdown.
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NewsMedia Bites 8 Nov: Yo! Sushi, Weetabix, M&S
he company behind the sushi chain Yo! has halted plans for a £750m stock market listing amid growing unease among investors
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NewsCity News: Sainsbury’s bumper profits not enough to offset Argos concerns
Continued strong grocery performance was not enough to reassure investor concerns over increasing costs and tumbling Argos sales.