All Financial Results articles – Page 96
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NewsCity snapshot: Tesco profits sink by 28% as Covid costs bite
Profits at Tesco have plunged by more than £700m despite sales rocketing as the supermarket incurred Covid-related costs of almost £900m. Plus, Tesco appoints the CEO of Kingfisher and a former Sainsbury’s chief digital and marketing officer to its board.
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NewsCity snapshot: Record year for Cake Box despite Covid disruption
Cake retailer Cake Box is set to report a record year despite the challenges of ongoing lockdowns throughout 2020 and 2021. Plus, drinks ingredients group Treatt updates the market on first-half trading and Russian food retailer X5 acquires a dark kitchen operator.
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NewsBuckfast warns of slowdown despite sales passing £50m
Newly filed accounts for Buckfast distributor J Chandler & Co said momentum had slowed in 2020/21
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NewsCo-op won’t pay back business rates relief due to ‘disproportionate Covid costs’
It claimed it incurred a disproportionate increase in costs associated with coronavirus measures compared to larger supermarkets
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NewsHilton sees revenues surge to £2.8bn amid Covid-19 home cooking boom
Hilton said it had seen progress in Europe across all its red meat, fish, vegetarian & vegan and fresh food lines
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NewsCity snapshot: Retailers celebrate sweet Easter as shoppers stock up on chocolate
Shoppers treated themselves as lockdown restriction began to ease in the run up to Easter, spending £439m on chocolate and sweets over the last month, according to the latest data from NielsenIQ. Plus, the increase in home cooking boosts Hilton Food Group in 2020.
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NewsCity Snapshot: COVID drives double-digit quarterly sales slump at Boots
The coronavirus outbreak has continued to hit sales at high street pharmacy retailers Boots as growing online and pharmacy revenues have failed to mitigate a dramatic drop in footfall.
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Comment & OpinionWalgreens Boots Alliance raises guidance after better-than-expected second quarter
Walgreens Boots Alliance has reported better than expected growth in its second quarter and raised its earnings per share guidance for the year
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NewsCity News: McColl’s sales fail to flow to bottom line
The chain’s total sales for the 53 weeks to 29 November were up 3.2% to £1.26bn
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NewsCity Snapshot: Margins improve at Compass Group despite revenue slump
Compass has announced a continued improvement in profit margins despite an ongoing slump in revenues as the coronavirus outbreak continues to hit sales across its business.
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NewsCovid demand drives General Mills sales even higher
The US-headquartered group, which owns brands such as Cheerios, Nature Valley, Häagen-Dazs, Betty Crocker and Old El Paso, reported an 8% jump in net sales
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NewsCity Snapshot: McColl’s profits slide despite Covid sales boom
Strong customer demand during the coronavirus pandemic led to double-digit like-for-like sales growth at McColl’s last year, but consumer shift to lower margin products and investment in price hit profits
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NewsCity Snapshot: Ocado first quarter sales surge 40% amid ‘permanent shift’ to online grocery
Ocado has seen a 40% surge in sales over Christmas and the New Year amid a “permanent shift” from physical to online grocery shopping. Plus, FeverTree margins tighten as off-trade shift limits annual sales drop to 3% and all the rest of the latest news from the City.
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NewsCovid puts an end to strong growth at Trewithen Dairy
Latest accounts for parent company Cornish Farm Dairy, for the year ended 30 April 2020, showed revenues declined 6% to £52.1m as the first national lockdown led to a collapse of its foodservice, hospitality and tourism business at the tail end of the accounting period.
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NewsCity snapshot: SSP Group launches £475m rights issue as it readies for slow Covid recovery
Upper Crust owner SSP Group is planning to raise £475m from shareholders in a rights issue to strengthen the balance sheet and prepare for a recovery from the coronavirus pandemic as lockdown restrictions begin to lift. Plus, Dutch dairy company FrieslandCampina agrees jv with Egyptian cheese maker to focus on the exports to Africa and the Middle East. And Science in Sport reports full-year results.
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NewsFarmison profits from surge in online shopping in best-ever year
Revenues more than doubled to £12.1m in the nine months to 31 December 2020, compared to £5.4m in the whole of 2019.
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NewsCity snapshot: Property giant Hammerson posts £1.7bn loss amid coronavirus slump
The UK’s biggest shopping centre owner Hammerson has posted a £1.7bn annual loss as the coronavirus pandemic has slashed the value of its portfolio and rental income plummeted.
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Comment & OpinionWhat else might Morrisons earn a ‘badge of honour’ for?
Morrisons is on a winning run. What will it (and its rivals) do next?
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NewsWyke Farms reports record turnover
The cheesemaker saw sales top £107m in the 12 months to 31 March
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NewsCovid profits plunge is a ‘badge of honour’ says Morrisons CEO Potts
Morrisons was hit by £290m of Covid-related costs and almost £40m to restructure its online business