Finance news – Page 544
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NewsB&M issues £250m bond to support growth plans
The owner of the B&M Bargains retail chain is issuing £250m on bonds to refinance existing debt and boost its future growth plans.
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NewsSainsbury's chair warned over using staff to renovate home
Company board found Tyler breached ethical code of conduct but made no financial gain
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NewsFaccenda profits hit by low prices and tough conditions
Combination of currency fluctuations, fierce competition in retail and oversupplied markets materially affected profitability, it says
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NewsPZ Cussons shares drop amid first half profits slump
Shares in beauty and personal care product supplier PZ Cussons have dropped 8.6% in morning trading after the Imperial Leather maker revealed a 38% drop in first half profits.
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NewsMedia Bites 24 January: Sainsbury's, Tesco, McDonald's
All the papers follow up on news that Sainsbury’s chairman David Tyler used the supermarket’s staff to do up his £1.5m country home; Tesco mounts ‘robust defence’ against more than 100 shareholders suing for loss of value; and McDonald’s sales fall in the fourth quarter.
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NewsCity snapshot: Fever-Tree sales fizz ahead of expectations
Posh mixer brand Fever-Tree has upgraded its profit expectations for the year after sales continued to rapidly accelerate in the second-half of 2016. Plus, profits sink at PZ Cussons as Nigerian market continues to be challenging.
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NewsSales and profits up at ready meals supplier Oscar Mayer
Own label ready meals supplier Oscar Mayer grew sales by over 5% last year as strong demand from key customers helped negate the “challenging marketplace” in UK grocery.
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NewsWestons profits fizz as cider maker taps into craft
Profits fizzed higher at Westons as the cider manufacturer outperformed the struggling UK market thanks to growing consumer demand for more premium and craft brands.
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NewsBon Bon Buddies overseas focus delivers record year
Overseas expansion and new contract wins have helped Welsh confectioner Bon Bon Buddies to record results, with sales up 13% and profits more than doubling in the year to 30 April 2016.
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NewsCity snapshot: Boparan receives mystery £350m approach for Fox's Biscuits
2 Sisters owner Boparan Holdings has received a takeover approach for its Fox’s Biscuits business from an unnamed suitor, valuing the division at around £350m. Plus all the rest of this morning’s news from the City
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NewsMedia Bites: Weetabix, Premier Foods, Fox's Biscuits, Unilever
The runners and riders are lining up for the potential auction of Weatabix, with a host of names linked to a £1.5bn buyout of the cereal maker over the weekend.
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NewsPremier Foods investor urges sale as profits fall short
Concerns surrounding Premier Foods’ “ability to recover from its long-standing ‘zombie’ status”
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NewsPremier hit by fall in multibuys as higher costs squeeze margins
A reduction in supermarket multibuys and own-label growth has wiped out branded sales growth, Premier Foods has claimed
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NewsSupermarket shopping app Ubamarket secures PE rollout funds
The app is currently being trialled in the Warner Budgens flagship store in Moreton-in-Marsh
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NewsPE owner of Hancocks engages advisers to explore sale
The private equity owner of Hancocks Cash & Carry is exploring options for a potential sale of the specialist confectioner
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NewsCity snapshot: Heineken in talks to buy Kirin’s Brazilian beer business
Dutch brewing giant Heineken has confirmed this morning it is currently is talks with Kirin over a possible deal for its Brazilian beer business. Plus Crowdcube posts record year of food crowdfunding deals and all the rest of the latest news from the City.
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NewsMedia Bites 20 Jan: M&S, Finsbury Food, Carrefour
“M&S ambitions to regain clothing crown dented by global rivals”, writes the Financial Times (£).
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NewsBrewDog £10m bond caps a recordbreaking year for Crowdcube
Booming investor demand for food and drink brands has fuelled a recordbreaking year on crowdfunding platform Crowdcube, with popular craft brewer BrewDog hitting its £10m target at the end of 2016.
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NewsLindt sales boost from higher-than-average UK growth
Lindt said it was now the fastest-growing chocolate brand in Great Britain, where it now has 13 retail shops, as group sales rise 6.8% to CHF 3.9bn (£3.1bn) in 2016.
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NewsVegemite returns to Aussie roots in £282m Mondelez sale
Vegemite is back in Australian ownership for the first time in more than 90 years after Mondelez International sold the yeast extract spread as part of AU$460m (£281.7m) deal.