latest – Page 58
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NewsCity Snapshot: Inflation hits new 30-year high in January
Inflation hit a new 30-year high last month as prices continued to climb despite January sales. Plus, Heineken bounces back but warns prices rise could hit demand for beer; full-year results from Coca-Cola Europacific Partners and Kerry Group; and Treatt appoints new CFO.
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NewsCity snapshot: Ultimate Products says global supply chain issues are improving
Homeware and household brands owner Ultimate Products has posted double-digit first half growth and pointed to improvements with global supply chain issues
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NewsOcado shares plummet as it ploughs investment in tech
Ocado’s share price slumped to wipe out all its pandemic-driven gains this week after continued investment in technology saw losses balloon and guidance was lowered for 2022
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NewsCity snapshot: Tate & Lyle’s food and beverage solutions posts 19% sales jump
Tate & Lyle has posted continued strong growth in its core food and beverage solutions business in the third quarter to upgrade full year expectations for the division
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NewsArla continues to see strong growth despite disruption to supply
The dairy co-op’s UK revenue grew by 2.6% to £2.17bn last year
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NewsSales fizz higher at Coke and Pepsi on strong demand and price hikes
Soft drinks giants Coca-Cola and PepsiCo have enjoyed double-digit sales growth in the final quarter of 2021 on the back of price increases and continued demand as consumers return to pre-pandemic habits out of the home.
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NewsCity snapshot: Unilever to hike more prices to cope with €3.5bn inflation hit
Unilever has warned that that more price rises are on the way to mitigate an extra €3.5bn of costs in 2022
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NewsCity Snapshot: PZ Cussons remains positive despite sales decline and cost pressures
Revenues have fallen back at hygiene and personal care group PZ Cussons as demand for its Carex hand sanitiser brand softened from heights experienced during earlier stages of the pandemic. Plus, Tate & Lyle appoints new CFO.
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NewsCity snapshot: Ocado’s annual loss grows by £125m as investment hits bottom line
Ocado’s annual losses ballooned to £176.9m last year despite continued top-line growth as investment in technology hit earnings
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NewsLotus Bakeries reports strong rebound of UK heathy snacking portfolio
Lotus Bakeries has reported a strong recovery in its Natural Foods division, with healthy snack brands Nakd, Trek and Bear bouncing back from Covid-driven sales falls last year
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NewsHeart of England Co-op reports 6.5% boost in Christmas sales
The protein category, including turkeys, beef joints and legs of lamb, saw sales increase by 3%
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NewsCity News: Virgin Wines issues profits warning as it struggles with new customers and costs
Virgin Wines was the latest company to fall foul of soaring costs this week
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NewsRiverford Organic sees 45% sales spike due to lockdown DTC demand
Soaring demand for home delivery during the pandemic saw sales at upmarket veg box provider Riverford Organic spike by 45%, taking revenues past £100m
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NewsElla’s Kitchen sales rise throughout and in wake of pandemic
Revenues at the brand rose 1.6% to £72.7m in the year ended 30 June 2021.
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NewsSpar enjoys ‘buoyant’ sales over Christmas
MD Louise Hoste put the performance down to “the location of stores, a well-stocked range and great availability”
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NewsCity snapshot: SSP Group sales recovery hit by Omicron
Travel food retail specialist SSP Group has reported a “good” start to its financial year, though its recovery in revenues was hit in December and January by the spread of the Omicron variant. Plus, Carlsberg 2021 revenues top pre-Covid sales, UK footfall remains supressed and all the rest of the latest news from the City.
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NewsCity snapshot: Virgin Wines issues profits warning on rising costs
Online wine merchant Virgin Wines has issued a profits warning due to the ’uncertain trading environment’ and ’increased cost pressures’. Plus Nestle buys US-based plant-based player, updates from Compass Group and Cranswick and all the rest of the latest news from the City
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NewsHeura sales soar as it expands consumer reach across the globe
Plant-based brand Heura has more than doubled revenues as its growing range reached more consumers across the world
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NewsCity snapshot: Diageo resurgence underpinned by on-trade recovery
Diageo has reported double digit rises in sales and profits as the recovery in the on-trade was boosted by market share gains and premiumisation trends. Plus trading updates from FeverTree, Britvic and Greencore.
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NewsAvara Foods sees turnover fall but profitability improve in ‘solid’ results
However, the poultry giant has warned its latest accounting period could prove more challenging