Finance news – Page 39
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NewsFentimans sinks into the red as sales lose fizz
The group swung from a £610k profit to pre-tax losses of £656k in the year ended 31 December 2023 as revenues sank 7.6% to £39m
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NewsCity snapshot: Applied Nutrition fires starting gun on London IPO
Sports supplements group Applied Nutrition has revealed plans to float on the London Stock Exchange in an IPO that is expected to value the Liverpool-based company at £500m. Plus, pre-tax losses at Gusbourne have widened in the first half as saled came in below expectations
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NewsMedia Bites 27 September: Morrisons’ mixed fortunes, Amazon pays tax, Freeport failure
Morrisons’ Q3 results drew a lot of the headlines
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NewsCity snapshot: Cranswick upgrades profit expectations on robust volume growth
Cranswick has raised its profit forecasts for the year after stronger-than-expected trading in the first half. Plus, Microsalt reports maiden interim results
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NewsAsda to offer sustainability-linked financial incentives to its suppliers
Asda farmers who engage in sustainability practices and work towards decarbonisation will get access to better financing from HSBC UK
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NewsBiscuiteers exceeds £250k crowd goal and appoints Childs Farm founder Joanna Jensen as non-exec
Biscuiteers has smashed a six-figure crowdfunding goal and appointed Childs Farm entrepreneur Joanna Jensen to its board
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NewsAG Barr shares lose fizz despite Irn-Bru and Rubicon owner outperforming soft drinks market
AG Barr shares lost ground this week despite the Irn-Bru supplier reporting a strong set of first-half results in a challenging soft drinks market
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NewsMorrisons makes turnaround headway but sales growth slows in Q3
Like-for-like sales growth has slowed at Morrisons in a ’noticeably softer’ third quarter as new CEO Rami Baitiéh continued his turnaround efforts
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NewsVita Coco credits emerging ‘natural hydration’ trend for double digit sales growth
Sales of Vita Coco in the UK were up by 23% in 2023
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NewsRheal hires advisors as it explores sale and expansion options
Rheal has hired M&A advisors to explore a sale of the rapidly growing superfoods brand as it looks to expand the business further into the grocery channel and international markets
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NewsDiageo strikes deal for US non-alcoholic spirits market leader Ritual
Diageo took a minority stake in Ritual via its Distill Ventures incubator in 2020
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NewsMeatable secures multimillion-pound funding for lab-grown meat
The credit will help Meatable ramp up its commercial activity
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NewsCity snapshot: Morrisons agrees £331m property deal on 76 supermarkets
Morrisons has signed a £331m deal to release value from its portfolio of stores as the supermarket continues with a turnaround attempt under new CEO Rami Baitieh. Plus, Asda launches new sustainability-linked enhancement to its supply chain finance scheme, trading updates from Poundland owner Pepco and Diageo, and interims from Adnams
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NewsMedia Bites 26 September: consumer spending, Co-op, Brexit border checks, single-use plastic
Co-op has revealed a £40m hit from shoplifting in the first half of the year, and personal spending on retail has improved
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NewsDanone doubles down in kefir with $280m offer for Lifeway Foods
The offer follows the French multinational’s expansion into the kefir market in the UK
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NewsMedia Bites 25 September: Labour Party conference, instant noodles
The nationals focussed heavily on the announcements from the Labour Party conference.
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NewsCity snapshot: Co-op turnaround strategy gains momentum in first half
Co-op has returned to the black as it boosted food sales and grew membership numbers by almost a million year on year. Plus, Kitwave has acquired family-owned food wholesaler Creed Catering Supplies in a £70m deal
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NewsQuorn parent Marlow Foods restructures as losses race past £60m amid plant-based slump
Losses have raced to more than £60m at Marlow Foods as the owner of Quorn and Cauldron continued to restructure the business amid a further deterioration in the meat alternatives market
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NewsWilton London brand rescued from liquidation by Boomerang Media
Wilton’s staff were notified the business had called in liquidators via email last month
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NewsCity snapshot: AG Barr scores good result from Euros Irn-Bru campaign
Sales at AG Barr have increased by more than £10m in the first half after a “highly effective” marketing campaign during the Euros football tournament in the summer boosted the popularity of Irn-Bru. Plus, Cake Box has revealed a collaboration with Nutella to launch a lineup of five new products for the UK market