Finance news – Page 669
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NewsTesco analysts bullish about prospects despite profit forecasts
Analysts expect good news as well as bad in Wednesday’s results
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NewsSupermarket price war devastates UK food suppliers – Begbies Traynor
Food and drink manufacturers across the UK are suffering the most as the big supermarkets slash prices to compete with each and fight back against the rise of the discounters.
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NewsBirds Eye owner reeled in by investment group for €2.6bn
Birds Eye owner Iglo has been sold to an investment company for €2.6bn (£1.84bn), private equity backer Permira has confirmed.
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NewsCity Snapshot: Supermarket war takes toll on suppliers and producers
Supplier and food producers are feeling the pain of the long and brutal supermarket price war in what recovery specialist Begbies Traynor said was a “savage landscape”.
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NewsMedia Bites 20 April: Tesco, Birds Eye, Co-op
Tesco readies itself for ‘horror show’ results, Birds Eye owner Iglo set to be sold for €2.6bn, and Co-op can’t commit to Fairtrade in tough trading environment
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NewsCity News: Diageo's pain is SABMiller's gain
There were contrasting fortunes for the UK’s largest listed alcohol firms on Thursday…
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NewsPoundland sticks to its guns forcing in-depth CMA investigation of 99p deal
Poundland £55m acquisition of rival discounter 99p Stores will face in-depth scrutiny from the Competition and Markets Authority after the group decided not to allay the watchdog’s monopoly fears.
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NewsJim McCarthy: Poundland's growth is not dependent on 99p Stores
Poundland’s rate of store openings slowed during the previous financial year, giving it 547 UK stores
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NewsBrakes Group plans Continental boost by acquiring Davigel
News broke on Wednesday that Brakes is in exclusive talks with Nestlé about acquiring Davigel - a deal that Brakes CEO Ken McMeikan said would, in effect, double its business in France
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NewsTayto sales and profits boosted by Golden Wonder resurgence
The sales improvement is partly due to the rebound of the Golden Wonder brand, which has seen double-digit sales value rises recently after coming under Tayto ownership in 2006
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NewsNestlé beats Q1 expectations with sweet organic sales growth
Food behemoth Nestlé registered sales of CHF20.9bn (£14.6bn) in its first quarter thanks to organic growth being ahead of expectations at 4.4%.
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NewsCity snapshot: Nestlé records first quarter growth despite currency impact
Nestlé shrugged off the strength of the Swiss Franc to record better than expected first quarter sales this morning.
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NewsMedia bites 17 April: Morrisons, Tesco, Unilever
New Morrisons boss David Pott’s decision to cut head office staff and hire in stores is making plenty of headlines this morning.
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NewsBernard Matthews reduces annual losses as cost cutting takes effect
Turkey giant Bernard Matthews experienced a “significant improvement” in the performance of its UK business during the 12 months to 29 June 2014, despite a fall in revenues of £39.9m to £306.8m.
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NewsDiageo shares drop following sales decline in many markets
Diageo’s share price fell almost 3% today after the drinks giant reported declining sales in many regions. -
NewsCurrency issues drive 2% drop in SABMiller reported revenues
SABMiller’s group net producer revenue (NPR) grew 4% in the financial year from April 2014 to March 2015, the company announced in a trading update today.
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NewsWH Smith profits rise in face of falling sales
Sales have dipped while pre-tax profits continued to grow at high street retailer WH Smith, according to its interim financial results released today.
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NewsMedia Bites 16 April: Tesco, Sainsbury’s, Co-op
Tesco gets set to hand back last corporate jet; Sainsbury’s reveals plans to give food space over to non-food; and new Co-op chairman Allan Leighton is accused by old guard of being a ‘dictator’.
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NewsCrawshaw carves space into the North West with £3.9m Gabbotts deal
Crawshaw Group is taking steps toward its ambitious target of running 200 stores after paying £3.9m to snap up Gabbotts Farm.