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Finance news – Page 450
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NewsSteven Watson joins Darren Goldney in departing P&H
Commercial director Darren Goldney has left to take up a new role as MD of Today’s Group
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NewsMcVitie's cuts number of Jaffa Cakes in pack from 12 to 10
McVitie’s has also reduced the size of the snack’s twin-pack from 24 to 20
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NewsPropercorn axes ‘half-popped’ Corn Crunch range
The four-strong lineup was delisted due to the prohibitive costs of marketing
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NewsHotel Chocolat set to unveil new app and loyalty scheme
The app will give “very different functionality and capabilities” to the site
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NewsAdjudicator launches new probe into three supplier issues
Tacon has released a new survey calling on suppliers to come forward with evidence
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NewsMedia Bites 27 September: Nestlé, AG Barr, Jaffa Cakes
Nestlé has for the first time set a target for increasing profit margins as CEO Ulf Mark Schneider unveils new strategy in London; AG Barr powers sales with new recipes despite passing on price rises; and Jaffa Cakes become the latest casualty of shrinking pack sizes in supermarket aisles.
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NewsCity snapshot: Hotel Chocolat doubles profits on healthy sales hike
Profits have doubled at Hotel Chocolat as investment in new stores, a new website and expansion in factory capacity helped drive a 12% jump in full-year revenues to £105.2m. Plus, losses widen at value meat retailer Crawshaw in the first half; and PZ Cussons warns tough trading conditions in most of its markets wil remain all year
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NewsGreggs wary of the Thorntons factor despite Iceland success
Greggs CEO Roger Whiteside hailed the success of its Iceland partnership but does not want to go into other retailers
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NewsMetcalfe's Skinny owner Kettle Foods acquires Cornpoppers popcorn brand
Snack producer Kettle Foods has expanded its popcorn footprint with the acquisition of Cornpoppers for an undisclosed price.
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NewsBestway looks for bigger slice of foodservice with revamp
Wholesaler is aiming for foodservice to account for 20% of its sales
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NewsMedia Bites 26 September: Aldi, sterling, Unilever, gin
Aldi’s annual results, with record sales but a hefty profits drop, falls under the media spotlight this morning.
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NewsCity snapshot: Reformulated Irn-Bru boosts AG Barr but cost pressures bite
Price inflation and the reformulation of its Irn-Bru and Rubicon range helped AG Barr boost sales during the first half, but increased brand investment and other cost pressure squeezed margins at the soft drinks producer
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NewsFaccenda Foods and Cargill team up for UK poultry venture
Joint venture would have capability to process 223 million birds a year
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NewsFormer Tesco execs Scouler, Rogberg and Bush face trial today
Trial follows a Serious Fraud Office investigation into Tesco’s £326m overstatement of its profits in 2014.
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NewsAldi UK announces profits drop as sales rise by £1bn
Aldi is now UK’s fifth biggest supermarket with a 6.9% share of the market
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NewsProduce World reports £7m loss amid 'significant and challenging events'
Grower says brassica joint venture with Lincolnshire Field Products failed to deliver expected benefits
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NewsCity snapshot: Aldi UK sales jump 13.5% to £8.7bn but profits fall back
Aldi grew its UK and Ireland sales by £1bn last year to £8.7bn but investment in growth and price meant operating profits fell by 17%.
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NewsMedia Bites 25 Sep: Tesco, P&H, L’Oréal
Three former Tesco executives accused of fraud and false accounting are due to stand trial on today in what the FT calls “one of the most high-profile prosecutions ever brought by the Serious Fraud Office”.
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NewsFood and drink industry facing 'time bomb' on labour
The annual study of the largest 150 UK food & drink suppliers lays bare the labour challenge facing the industry
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NewsBakkavor gets set for £1.5bn float in coming weeks
Bakkavor, one of the UK’s biggest suppliers of ready meals, pizzas and desserts to the major supermarkets, is preparing for a stock market flotation in the next few weeks that will value it at up to £1.5bn, The Grocer can reveal.