Finance news – Page 664
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NewsCity Snapshot: Booker to buy Londis and Budgens
Booker has signed a deal with Musgrave to buy its Londis and Budgens chains in the UK for £40m, plus Dairy Crest’s annual profits collapse, Booker’s full-year results and the rest of today’s news from the City
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NewsBooker succeeds in £40m bid for Budgens and Londis
Londis currently has 1,630 convenience stores and sales of £504m in the year to December 2014, while Budgens has 167 convenience stores and supermarkets and sales of £329m.
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NewsM&S profits rise as food ‘outperforms’ the market and capex tap is turned off
Marks & Spencer was one of the biggest risers on the FTSE 100 today after posting a 3.4% rise in pre-tax profits to £600m.
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NewsCity Snapshot: Bolland upbeat as M&S reveals first rise in profits under his reign
Marks & Spencer CEO Marc Bolland has praised the performance of the retailer’s food business as the high street bellwether posted a 6.1% rise in underlying pre-tax profits to £661.2m – the first rise in the bottom line for four years. Plus Britvic CFO announces retirement as drinks company posts interim results.
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NewsMedia Bites 20 May: Asda, Walmart, deflation, Premier Foods
Asda licks its wounds as it lags behind rivals; sales and profits fall at Walmart; UK in deflation for first time in 55 years; and Premier Foods and Greencore confident in face of falling prices.
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NewsPremier Foods benefits as supermarkets hit back at discounters
Premier Foods said it was starting to see the benefits of the brutal grocery price war as the supermarkets fight back against the growth of the German discounters.
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NewsRefresco Gerber bottom line hit by costs of IPO
Refresco Gerber has fallen to a €11m loss in its first quarter thanks to costs related to its Dutch flotation in March.
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NewsBonds sees sweet sales growth thanks to new products
Bonds Confectionery has sweetened its balance sheet with a healthy increase in all key measures.
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NewsAsda sales slump in ‘most challenging year yet’ for supermarkets
Asda has revealed a 3.9% fall in like-for-like sales during an “unprecedented” quarter in the grocery market.
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NewsBooming food to go sales boost Greencore's first half trading
Convenience food group Greencore shrugged off the tough grocery market conditions to report a 3.2% revenue rise in the six months to 27 March.
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NewsMedia bites 19 May: GCA, Thorntons, Cranswick
Officials at the watchdog set up by the Government to oversee the supermarket industry spent at least a year battling with Whitehall to get powers to impose fines on grocers for misconduct, according to The Independent.
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NewsCity Snapshot: Sales trends improve at Premier Foods
Branded sales at Premier Foods (PFD) have showed their fourth successive quarter of sequential improvement, but overall full-year revenues fell 4.5%…
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NewsWonderful Brands buys Pomegreat from administration
Wonderful Brands has purchased the assets of the Simply Great Juice Company from administration.
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NewsThorntons boss steps down amid disappointing results
Jonathan Hart will leave the company at the end of June, to be replaced by chief operating officer Barry Bloomer as interim until a successor can be found
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NewsCranswick profits up 10% as annual revenues edge past £1bn
Underlying pre-tax profit at pork supplier Cranswick was up 10.6% for the year ended 31 March, boosted by growing exports and strong sales of sausages and bacon.
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NewsCity Snapshot: Sales sizzle past £1bn at Cranswick
Sales at pork supplier Cranswick pass £1bn for the first time. Plus, Thorntons begins search for new CEO as Jonathan Hart resigns; Co-op executives survive stormy AGM; and shares in M&S soar as retailer gets set to unveil rise in profits.
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NewsMedia Bites 18 May: M&S, Co-op, Massimo Zanetti
Pressure eases on M&S CEO as retailer set to post rise in profits; Co-op executives face stormy AGM; and Massimo Zanetti to raise €200m.
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NewsNutrisure stake taken by Lonsdale Capital Partners
Londsale said the new funds would help Nutrisure continue to grow by investing in its Naturya and Supernutrients brands
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NewsC&C Group sales climb despite challenging environment
C&C also revealed a €67.8m loss due to a €150m impairment charge related to its US operations
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NewsCoca-Cola HBC boosts FTSE 100 as first quarter sales fizz
Coke bottler Coca-Cola HBC helped drive the FTSE 100 higher this morning after posted an unexpected rise in first-quarter sales.