Finance news – Page 191
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NewsQuorn profits shrink as rivals eat in market leader’s share of meat-free category
Profits at Quorn have retreated as soaring costs put pressure on margins and an increasingly crowded meat-free category saw sales dwindle at the market leader.
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NewsCity snapshot: Bakkavor CEO Agust Gudmundsson to step down
Bakkavor CEO Agust Gudmundsson is to retire next month to be replaced by current COO Mike Edwards. Plus trading updates from Mitchells and Butler and Gusbourne as the FTSE sees heavy losses in early trading
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NewsMedia Bites 29 September: Morrisons, Mars, Shepherd Neame
A profits slump at Morrisons makes headlines this morning as the cost of living crisis subdues consumer confidence.
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NewsMorrisons profits slump on sales decline as shoppers feel the pinch
Profits slumped as subdued consumer sentiment led to a decline in sales and “unprecedented” inflationary pressures hit in-house manufacturing operations
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NewsMackie’s of Taypack rescues own-label popcorn maker from administration
Snacking firm Mackie’s at Taypack has rescued one of the UK’s largest independent own label popcorn manufacturers from administration in a pre-pack deal, saving the jobs of 60 staff.
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NewsMedia Bites 28 September: food price inflation, Morrisons, AG Barr
Food inflation has hit its highest rate on record with shoppers now paying 10.6% more than they were a year ago
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NewsCity snapshot: Food prices soar to highest rate on record
Food inflation has rocketed to its highest rate on record as soaring input costs continue to mount for suppliers, according to new figures this morning.
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NewsBooming sparkling and off-trade sales boost UK’s biggest winemaker
The UK’s largest wine producer Chapel Down returned to growth in the first half of the year as strong demand for English sparkling wine, the reopening of the on-trade and strong off-trade sales boosted performance
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NewsCity snapshot: Hot summer and off-trade reopening boost AG Barr
AG Barr has posted strong first half growth as out-of-home consumption rebounded and the soft drinks maker benefited from the warm summer weather. Plus SSP Group sees travel rebound, new interim CEO at Domino’s and all the rest of the latest news from the City
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NewsMedia Bites 27 September: Unilever, Aldi, Sainsbury’s
The papers focus on the retirement of Unilever boss Alan Jope and plummeting profits at Aldi.
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NewsSainsbury’s £500m sale and leaseback store deal scrapped
A £500m sale and leaseback transaction for 18 Sainsbury’s stores announced last week has colllapsed
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NewsUnilever begins search for new CEO as Alan Jope sets retirement date
Unilever has announced CEO Alan Jope will step down from his role at the end of 2023
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NewsCBD player Cannaray proposes merger with Cellular Goods
Cannaray is planning to list its consumer CBD brands on the London Stock Exchange through a reverse takeover of Cellular Goods
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NewsCity snapshot: UK profits plunge at Aldi as investment in price hits bottom line
Aldi suffered a near 80% drop in operating profits in 2021 as sales flatlined ahead of a strong rebound in growth in 2022. Elsewhere, Alan Jope to retire from Unilever, Sainsbury’s scraps property sale, updates and Finsbury Food Group and Chapel Down and all the rest of the latest news from the City
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NewsMedia Bites 26 September: Morrisons, Pound, Christmas retail
Morrisons’ private equity owners have asked hundreds of staff to invest thousands of pounds of their own money in the business
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NewsCity News: Haleon posts strong growth in first listed results amid Zantac battle
Former GSK consumer arm Haleon posted strong double-digit growth in its first financial results as a listed company, although investors were more interested in its tough stance against its former parent over Zantac litigation. The recently spun-off consumer health group saw organic revenue growth of 11.6% in ...
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NewsBiscuits sales decline hits Pladis recovery
Revenues at Pladis have crumbled due to falling demand for biscuits in the wake of the pandemic and the impact the McVitie’s owner pushing through price increases
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NewsNestlé UK revenues approach £2bn after out-of-home rebound
The rebound in out-of -home sales and hybrid working habits helped Nestlé UK grow revenues to near £2bn last year, but mounting cost pressures suppressed profits
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NewsMini budget slammed as missed chance to fix business rates
BRC CEO Helen Dickinson said retailers would have to pass the rising bill on to shoppers
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NewsGlobal 50 report shows strong growth for consumer giants
The globe’s consumer goods giants hit their highest growth levels for a decade last year amid a post-Covid resurgence according to the OC&C/Grocer Global 50