Finance news – Page 427
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NewsNew wholesale regs pushed Interbev Ltd into administration
Fast-growing drinks wholesaler Interbev Ltd was pushed into administration after new HMRC alcohol regulation hit revenues
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NewsTesco and M&S both fall short of City expectations
“Super Thursday” proved anything but super for the grocers this week
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NewsBuoyant sales for Buckfast but Brexit hits profit margins
Annual accounts for owner J Chandler & Co for the year to 31 March 2017 show a 3.1% rise in sales
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NewsFaccenda credits profit rise to focus on lower costs
The chicken, duck and turkey supplier is expected to complete a joint venture with the UK poultry arm of US meat giant Cargill
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NewsWyke Farms profits rise despite butterfat cost hikes
The cheesemaker had to contend with a near £1m loss in turnover from its butter division
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NewsMedia Bites 12 January: Tesco, Marks & Spencer, John Lewis/Waitrose, Amazon
‘Super Thursday’ saw the fortunes and disasters of the retail industry dominating yesterday’s news cycle – and grocery retailers in particular as Tesco, Marks & Spencer and Waitrose all reported results.
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NewsCity snapshot: B&M Bargains sales soar in Christmas run up
The march of the discounters continues this morning as B&M Bargains unveils strong results in the run up to Christmas, driven by a “robust” performance of its grocery and fmcg ranges. Plus, Conviviality announces raft of organisational changes, with Mark Aylwin leaving the group.
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NewsAspall sales surged by £7.4m in run up to Molson Coors acquisition
Operating profits fell into the red (–£187k) thanks to “greater than expected” costs
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NewsFlor Healy starts work as Samworth Brothers CEO
The former Kerry Foods boss started in the role this week – two months after The Grocer exclusively revealed the appointment.
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NewsPlastic-free aisles urged as PM guns for avoidable plastic waste
Environmental plan proposes aisles without any plastic packaging, where all food is sold loose
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NewsMolson Coors plans major investment in Aspall Cyder capacity
The brewery would initially focus on growing Aspall’s presence in the on and off-trade…
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NewsIrish food and drink exports rise 13% to hit record high
The UK remained Ireland’s key export market, accounting for 35% of total exports
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NewsMedia Bites 11 January: Sainsbury's, Lidl, M&S
It’s Sainsbury’s turn to face the media spotlight as it becomes the latest supermarket to update the market on its Christmas trading.
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NewsShine taken off record Christmas at Tesco by collapse of Palmer & Harvey
Tesco and Waitrose have both managed to drive underlying sales growth over Christmas, but Marks & Spencer lost out to Aldi and Lidl as like-for-like food numbers declined. However, the shine was taken off Tesco’s results by the impact of the Palmer & Harvey collapse.
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NewsRichard Rose joins Hancocks in non-executive role
Rose is a former chairman of Booker and AO World
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NewsM&S to invest £25m in 'digital-first' tech programme changes
Retailer plans to transfer 250 existing technology roles to Tata Consultancy Services
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NewsAldi and Lidl outpacing big four in supermarket space race
However even the discounters have scaled back on applications
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NewsHumphrey Singer to become new M&S chief finance officer
Singer, finance director of Dixons Carphone, will replace Helen Weir, who is leaving to pursue a portfolio career
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NewsCo-op's Steve Murrells urges post-Brexit EU partnership
Murrells welcomed Michael Gove’s pledge that payments to farmers would be extended post-Brexit
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NewsMedia Bites 10 January: Morrisons, Kantar/Nielsen, Majestic Wine
The main focus in a busy day for food and drink is a strong set of Christmas results for Morrisons.