Finance news – Page 631
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NewsMorrisons Q3 results: what the analysts say
Following Morrisons’ Q3 update this morning, here’s how leading City and retail analysts rated its performance
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NewsMedia Bites 5 Nov: M&S, Asda, Whole Foods
Unsurprisingly M&S’ half year trading results are the main topic of conversation in today’s papers.
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NewsCity snapshot: Morrisons’ third quarter sales fall by 2.6%
Third quarter like-for-like sales (ex fuel) at Morrisons fell by 2.6% in the 13 weeks to 1 November, plus trading updates from Dairy Crest, Tate & Lyle, Coca Cola HBC and Hilton Food Group.
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NewsReckitt Benckiser wins CMA approval for K-Y acquisition
The UK’s Competition & Markets Authority has waved through Reckitt Benckiser’s acquisition of the K-Y brand following consultation after Reckitt agreed to licence the business in the UK.
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NewsFever-Tree ups growth forecasts amid booming international sales
Fever-Tree, the supplier of premium carbonated mixes for alcoholic spirits, expects its full-year results to be “materially ahead of board expectations”, it said in an unscheduled trading update today.
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NewsFood prices still falling, reveals Shop Price Index
Prices fell 0.4% compared with the same month last year
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NewsM&S hits three month share price high after first half sales increase
Marks & Spencer has reported a 1.4% rise in first half sales to £5bn, driven by its continued outperformance of the troubled UK grocery sector.
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NewsMedia Bites 4 November: AB Inbev, SABMiller, ABF, Tesco, Imperial Tobacco
AB InBev and SABMiller continue to be the focus of attention as they thrash out details of the £68bn takeover; ABF profits sour on sugar woes but Primark is set to expand in the US; and Imperial Tobacco boss plays down break up rumours.
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NewsCity snapshot: M&S food business drives sales growth in first half
Marks & Spencer has increased sales 1.4% to £5bn in the first half, mainly thanks to continuing growth in its food business
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NewsKellogg sales and profits hit by strong US dollar
Profits at Kellogg Co slumped more than 8% in the third quarter as sales at the US cereal manufacturer missed expectations
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NewsIncreased growth brand volumes boost Imperial Tobacco’s profits
A 7% rise in global growth brand volumes helped Imperial Tobacco full year adjusted operating profits grow by 2.4% to more than £3bn.
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NewsKerry shares slip despite rising volumes
Kerry Group has increased volumes in the third quarter as its ingredients business made strong gains in Asia and the consumer foods division shrugged off challenging conditions.
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NewsShopper confidence at its highest on record in Nielsen survey
Number of UK consumers positive about making purchases rose five points to 49%
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News
Sugar woes and currencies hit profits at ABF
Associated British Foods (ABF) has recorded a 6% fall in adjusted full year operating profit as a collapse in profitability of its sugar division hit overall earnings.
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NewsMedia Bites 3 November: IRI, M&S, Molson Coors, Heck Food
More than half of all goods sold in the UK are on some kind of promotion; M&S gets set for another disappointing financial update; Molson Coors is in advanced talks to buy SAB’s stake in American JV; and WHO cancer scare helps Heck sell more sausages.
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NewsCity snapshot: ABF sales and profits slip but sugar woes better than feared
Revenues and profits slipped at Associated British Foods as the retail and grocery group struggled with food commodity deflation and significant swings in currency markets.
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NewsTate & Lyle completes Eastern Europe ingredients restructure
Archer Daniels Midland Company, which owns half the joint venture with Tate, has bought bulk ingredients plants in Bulgaria, Turkey and Hungary
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NewsNomad completes £500m takeover of Findus
Nomad Foods has completed the £500m takeover of the European arm of Findus after the deal cleared the relevant anti-trust hurdles.
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NewsUnilever accredited as living wage employer
The move will mean a pay rise for about 500 of the company’s UK staff
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NewsAsda and Tesco slip as high street entertainment sales surge
Asda and Tesco lost share of the entertainment market in the past quarter as high street retailers enjoyed a resurgence