Finance news – Page 8
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NewsSeabrook owner Calbee ‘disappointed’ by profit slip
Calbee’s profit fall was mainly due to delays expanding its Bradford factory
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NewsYorkshire Tea owner Bettys & Taylors sees sales top £300m for first time
It marks a 40% rise since before the year before the pandemic
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NewsMedia Bites 27 May: M&S, trade deals and store security
Papers had plenty to pick over during the long weekend, but the ongoing M&S developments, the UK’s trade deals and ramped-up store security measures were the frontrunners for many.
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NewsFood inflation hits one-year high with steaks ‘more expensive’
Food inflation hit a one-year high in May as fresh foods like beef, milk, and eggs all grew more expensive
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NewsBrewery insolvencies hit triple figures in just two years
Some 43 breweries became insolvent in the past year
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NewsUK retail sales jump again as Brits’ confidence improves
It marked the fourth consecutive monthly rise and builds on the best quarter for British retailers since 2021
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NewsConsumer confidence nudges up as tariff concerns ease, says GfK
All five key indicators including personal finance, savings, and general economic situation saw an improvement
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NewsKraft Heinz eyes new deals as Berkshire Hathaway leaves board
The company cut its annual sales and profit outlook this month after a sixth straight quarter of revenue decline
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NewsTate & Lyle says ‘transformation complete’ after CP Kelco deal
Tate & Lyle’s acquisition of CP Kelco will boost revenue by about 40%
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NewsCBD drinks brand Trip racks up losses amid global expansion
The business, launched by Olivia Ferdi and Dan Khoury in 2019, accumulated losses of £5.6m in the year ended 28 February 2024, according to unaudited accounts filed at Companies House. It comes on top of a similar deficit in the prior year and takes total losses at the business to £13.9m
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NewsPoundland cuts profit guidance as sales slump escalates
Efforts to sell the business are still ongoing with a deal expected by the end of September
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NewsConsumer confidence edges up as UK economy improves
The over-60s saw the biggest boost in confidence although they remain the most pessimistic of any generation
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NewsLoch Lomond Group enters US whiskey with New York Distilling Company acquisition
NYDC’s flagship Jaywalk Rye whiskey is known for its use of Horton Heirloom rye
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NewsThis improves margins as meat-free brand halves losses
The business has slashed the total number of SKUs produced from 100 to 44 as part of its strategy to become profitable
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NewsAsda plans £400m in store sell-offs to raise turnaround cash
The supermarket plans to lease the sites back for around 20 years in a ‘sale and leaseback’ scheme
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NewsFroneri’s ice cream profits hit by factory closure
A wet British summer was also a drag on Froneri’s sales last year
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NewsFood & drink M&A momentum continues as UK activity hits eight-year high
Volumes in the sector for the first quarter matched the 40 recorded in the final three months of 2024, data from professional services firm Grant Thornton showed
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NewsUK food inflation jumps to 3.4% as meat costs rise
Food inflation jumped to 3.4% in April, with the rising cost of feeding the nation contributing to the overall UK inflation rate reaching its highest level for over a year
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NewsM&S cyberattack to cost £300m as disruption continues until July
The cyberattack, which took place over the Easter weekend, forced M&S halt to online orders and is expected to continue affecting availability until July
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NewsUpper Crust owner SSP boosts profits despite geopolitical disruption
The FTSE 250 company said recent geopolitical events had triggered a ‘heightened level of uncertainty’