Finance news – Page 659
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NewsAppetite for Charlie Bigham’s posh meals drive sales growth
Sales at Charlie Bigham’s have grown again despite a “fiercely competitive” grocery market and rising food costs as consumer appetite for its posh ready meals continues to get bigger.
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NewsPoundland shares sink despite £1bn breakthrough
Shares in Poundland sank more than 6% this morning despite sales at the discount retailer breaking the £1bn barrier for the first time.
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NewsMedia bites 18 June: Waitrose, MSRA, Rémy Cointreau
Waitrose’s innovative new scheme to allow customers to choose their own special offers has hit the headlines this morning.
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NewsCity snapshot: Profits up 18.6% at Poundland but it cautions over first half trading
Poundland’s full-year underlying pre-tax profits were up 18.6% to £43.7m as annual sales hit £1bn for the first time, plus board changes at Poundland and the FTSE 100 hits a five month low.
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NewsNew Booker chairman is former Müller Dairies boss Stewart Gilliland
Booker has this morning announced that Stewart Gilliland will replace Richard Rose as non-executive chairman.
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NewsCity Snapshot: Co-op drops fruit & veg prices as it enters price war
The Co-operative Group has waded into the supermarket price war with £125m committed to slash the cost of fruit and veg across its 2,800 UK stores. Plus Rimmel mascara maker Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets.
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NewsMedia Bites 17 June: Co-op, Coty, Nestlé, Woolworths
The Co-operative Group is to invest £125m to cut the prices of fruit and veg in its 2,800 UK stores; Rimmel mascara owner Coty is close to taking over $12bn worth of Procter & Gamble’s beauty assets; and Nestlé is cutting 15% of its workforce across 21 African countries.
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NewsMilk prices could go up without affecting demand, survey suggests
A survey of 1,270 milk drinkers by Mintel found that 51% of consumers would be prepared to pay more than £1 for four pints
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NewsMark Allen set for £1.2m pay-out for 'transforming' Dairy Crest if Müller deal a success
Dairy Crest CEO Mark Allen is in line for a potential £1.2m windfall if the proposed £80m acquisition of its liquid milk operation by Müller gets signed off by the UK competition watchdog.
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NewsGrowing Majestic’s online sales is not the priority, says Rowan Gormley
A number of commentators predicted that Majestic Wine’s takeover of Naked Wines would enable it to supercharge its online growth
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NewsCity Snapshot: Applegreen worth €300m after winning the backing of City funds
Irish forecourt operator Applegreen has revealed its flotation later this month will value the group at €299.7m (£218.8m) after winning backing
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NewsMedia Bites 16 June: Majestic Wine, Metro
All the papers follow The Grocer’s lead the morning with news that Majestic Wine is trialling selling single bottles of wine in the hope of winning new customers.
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NewsMajestic Wine to slow store rollout plans
Majestic Wine has cut its store estate expansion plans after announcing a 22.5% drop in pre-tax profits.
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NewsIan Deste is new Burton's Biscuits UK & Ireland MD
Most recently commercial director at Premier Foods, Deste left the business last September, and has previous with spells at Premier Foods and CCE
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NewsMüller's Dairy Crest acquisition on verge of fresh investigation
£80m deal for Dairy Crest’s loss-making dairies operation could be referred to a ‘phase two’ investigation unless “acceptable undertakings” were offered
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NewsAlastair Jackson made MD of Adams Food Ingredients
Jackson starts next week after spending five years as marketing director of sister company Adams Foods
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NewsMedia bites 15 June: Tesco, GSCOP, business rates
Tesco needs to raise more than £5bn to fix its balance sheet and regain its investment grade credit rating, according to rating agency Moody’s.
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NewsBooker executives sell on shares worth £11.5m
The group of execs, not including CEO Charles Wilson, sold a collective total of 6.8 million shares for 170p each
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NewsCity snapshot: Profits plunge at Majestic Wine
Full year pre-tax profits at Majestic Wine have slumped by 22.7%, FSTE falls on Greek debt worries, plus what’s on in the City this week.
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NewsImperial Tobacco completes $4.6bn US acquisition
Imperial Tobacco has completed the £4.6bn deal to buy US cigarette and e-cigarette brands from Reynolds and Lorillard.