latest – Page 55
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NewsCity snapshot: McColl’s trading slows as rescue talks continue
McColl’s has issued a profits warning after slower than expected Easter trading, while it remains locked in talks with its lenders and Morrisons over a financing package to enable its ongoing trading
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NewsCity News: Market buoyed by Nestlé’s growth despite warnings of further price hikes
Nestlé warned of further price increases this week, on top of the existing 5%-plus price hikes this year, but analysts were buoyed by the fmcg giant’s continued organic growth
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NewsFilippo Berio UK expects ‘challenging year’ as input inflation bites
Olive oil market leader Filippo Berio has warned of “spiralling costs” and shipping issues from Italy after its UK profits were dented by inflationary pressures last year
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NewsCentral England Co-op food sales dip 3.4% to £667.6m
Sales of local goods increased by 23% over the past year
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NewsPoundland Group revenues up 8.6% to €467m in latest quarter
Poundland Group includes its sister fascia Dealz in Europe and the Republic of Ireland
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NewsCity snapshot: Nestlé warns of further price increases as inflation boosts growth
The world’s largest food group Nestlé has warned of further price increases on top of its existing 5%-plus price hikes amid a “sharp” rise in costs. Plus, THG rejects ‘numours’ offers as it posts strong growth, but losses of £130m.
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NewsP&G upgrades growth forecast but higher costs weigh on earnings
The US consumer giant has hiked its full-year growth expectations after posting double-digit organic growth in the first three months of 2022, but also warned it is facing higher costs
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NewsDanone shares soar as rumours of Lactalis takeover talk emerge
Danone shares have surged more than 8% today as speculation emerged that fellow French dairy giant Lactalis is exploring a surprise takeover of its larger rival.
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NewsCity Snapshot: Heineken sales surge as pubs reopen but cost pressures remain
Beers sales at Heineken have rocketed in the first quarter as pubs reopened across Europe and Asia and the Dutch brewer hiked prices. Plus, full-year trading updates for Naked Wines and Real Good Food; and first-quarter figures from Danone and Just Eat Takeaway.
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NewsFentimans ‘optimistic’ for its growth despite cost pressures
Revenues at the business soared by 23% to £39.9m – with gross sales before promotions up 20% to £44m – in the year ended 31 December 2021, as the brand’s popularity grew in supermarkets and out-of-home began to recover.
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NewsCity snapshot: Cake Box sales jump 50% on new openings and Covid rebound
Cake retailer Cake Box Holdings has posted growth of 50% in the year ending 31 March as store openings and the ending of Covid restrictions boosted sales
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NewsProperty sell off takes Asda profits past £1bn
Asda’s statutory profits topped £1bn last year, according to newly filed accounts, as the group benefited from a one-off gain of almost £400m on property sales
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NewsTesco boasts strong trading but cautious outlook spooks the City
Tesco’s annual results were a tale of contrasting narratives, with stronger than expected trading last year being overwhelmed by a cautious outlook amid soaring inflation and intensifying competition
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NewsTesco profits soar but supermarket warns over battle to keep prices low as inflation rages
Profits at Tesco have soared £1.4bn higher as sales increased over the past year, but it warned the bottom line would come under pressure in 2022
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NewsCity Snapshot: Tesco profits soar as boss Ken Murphy vows to keep cost of weekly shop in check
Tesco profits soared £1.4bn higher as sales increased, but the supermarket giant warned its bottom line would come under pressure in 2022 as it battled to keep prices low.
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NewsJempson’s sales dip 1.2% but ‘holds on’ to majority of growth gained in pandemic
During the year to June 2021 the company made two bonus payments to all employee
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NewsHome Bargains sales soar 20% to £3.3bn, boosted by store openings
The estate grew by 27 stores during the period
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NewsCity snapshot: Deliveroo posts double-digit first quarter growth against 2021 lockdowns
Deliveroo posted double-digit growth in its first quarter despite benefitting from Covid lockdowns last year, although spend per order fell. Plus retail growth slows in March, Parsley Box targets recovery from “tough” year and all the rest of the latest news from the City.
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NewsCity Snapshot: Treatt flags higher margin forecasts for H2 as momentum continues
Revenues at the group increased 9% to £66.3m in the first half to 31 March, driven by its expertise in citrus, its largest category, Treatt said in a trading update.
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NewsWing Yip profits soar by 75% to reach £11m in 2021
The company, which specialises in supplying Chinese and oriental groceries, recorded a pre-tax profit of £11m, up from £6.3m in 2020