All Finance articles – Page 681
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Comment & OpinionLiving wage means rethink of price-marked packs
Nobody is against the principle of paying valued staff more money, provided the business model can sustain it
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NewsAsda profits hit £1bn despite shrinking sales
Asda has pushed profits past the £1bn mark - despite sales falling 0.4% to £23.2bn and market share dipping - thanks to its low-cost operating model.
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NewsProduce Investments jobs at risk after potato contract slashed
A 45-day consultation period has been launched with staff at the Kent Potato Company
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NewsJohn West profits leap as tuna sustainability faces scrutiny
John West revealed a big jump in profits this week, as it faced fire for “trashing the oceans for cheap tuna”
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NewsMedia Bites 8 October: Tesco, SABMiller/AB InBev, Poundland
Tesco’s first half results and the SABMiller/AB InBev takeover saga and dominate the papers this morning.
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NewsCity snapshot: Tate & Lyle reaffirms guidance after “encouraging” six months
Tate & Lyle has reaffirmed its full year earnings guidance in a six month trading statement this morning
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Comment & OpinionDave Lewis uses IGD Debate to denounce predecessors’ “naked pursuit of profit”
This was supposed to be the moment the world delivered its verdict on Tesco boss Dave Lewis after his first tumultuous year at the helm
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NewsDiageo and Heineken swap emerging markets assets in $780m deal
Diageo has agreed a $780.5m (£515m) three-part deal with Heineken to swap assets in emerging markets.
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NewsSABMiller rejects new £68bn takeover bid from AB InBev
The SABMiller board still has to formally consider the new offer made by AB InBev but indicated in a statement to the City on Wednesday morning (7 October) it was not minded to accept it.
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NewsTesco results – what the analysts say
Tesco today announced a sharp drop in first-half profits but also revealed a recovery in volumes. Here is what leading City and retail analysts had to say about the results
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NewsTesco’s first half profits halve as sales stabilise
Tesco’s first half reported opperating profits fell by more than half from £779m to £354m, but CEO Dave Lewis has hailed the “sustained improvement” in its trading performance.
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NewsCity snapshot: Tesco volumes up as like-for-like sales decline slows
Tesco has reported that volumes and transactions have grown during its first-half helping to slow the decline of like-for-like sales in the UK but its profits have halved. Alsp, AB InBev has tabled a £68.2bn improved offer for SABMiller; Diageo and Heineken have agreed disposals worth £515m in Jamaica, Malaysia, Singapore and Ghana; and Conviviality has completed its £200m reverse takeover of Matthew Clark.
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NewsThe Bite Group saved as Adelie Foods buys from administrator
Chilled food to go manufacturer Adelie Foods has bought Enniskillen sandwich and fresh food company The Bite Group from administrator Deloitte.
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NewsSABMiller reports “strong growth” amid bid rejection reports
SABMiller has issued a first half trading update today detailing its continuing growth in South America and Africa as media reports suggests AB InBev’s initial offer has been rebuffed.
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NewsMenu revamp helps drive Greggs’ third quarter sales up 4.9%
Like for like sales for the first three quarters are now 5.6% up year-on-year
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NewsAston Manor sales lose fizz as UK cider market declines
A declining UK cider market has taken the fizz out of sales at Frosty Jack manufacturer Aston Manor, but MD Gordon Johncox said the company was better placed than any other cider maker to continue to grow and develop the category.
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NewsCity snapshot: SABMiller highlights its strengths as it awaits AB InBev bid
Takeover target SABMiller has talked up its strengths as a global brewer and highlighted its “exceptional long-term prospects” in a trading update this morning. Plus Greggs shares climb again after third quarter sales growth.
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NewsMedia Bites 6 October: Ocado, Nestlé, 5p charge
Oocado goes on hiring spree ahead of Xmas; Nestlé and R&R are set to join forces to create an ice-cream giant; and supermarkets brace themselves for a flood of basket thefts as the 5p carrier bag charge comes into effect.
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NewsCallan Bacon owner expands UK presence with Stirchley Bacon deal
Irish pork processor M&M Walshe has acquired wholesale supplier Stirchley Bacon in a cross-border transaction creating a €120m (£88.7m) group.
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NewsWestons grabs more market share as sales and profits rise
Sales at Westons Cider have hit record levels as the group behind the Stowford Press, Henry Westons and Old Rosie brands grabbed more UK market share.