more results news & analysis – Page 17
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Oddbox reports loss as it invests in winning wonky veg customers
Newly filed accounts for the year ended 30 June 2022 revealed the business fell to a £4.8m pre-tax loss, compared with profits of £540k in the previous financial year.
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Co-op seeking million more members as it reports ‘robust’ results
A £319m gain from the sale of the forecourt business in October helped the group avoid a loss for the 52 weeks to 31 December 2022
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Parfetts drives sales through the £600m barrier for the first time
Sales at the Stockport-based wholesaler jumped 6.1% to £605m in the year to 30 June 2022
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City snapshot: Co-op boosts profits with “robust” performance but inflationary challenges continue
The Co-operative Group has hailed a “robust” set of annual results as the mutual’s profits received a boost from the sale of petrol forecourts to Asda and cost-cutting. Plus, former Co-op Group boss Steve Murrells appointed as CEO of meat processing giant Hilton Food Group. Hilton also reported a fall in full-year profits.
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City snapshot: UK supermarket sales growth continues to lag inflation
UK supermarkets posted double-digit growth in March, but sales growth continues to lag food price inflation, according to new grocery market share figures
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City snapshot: Lavazza keeps lid on price rises to boost volumes in 2022
Lavazza has boosted turnover by 17.6% to €2.7bn as the coffee products group kept a lid on price rises and increased volumes across all the markets in which it operates.
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City news: AG Barr shares hit despite stellar growth
Shares in AG Barr suffered this week despite the Irn-Bru maker posting stellar annual growth, as investors reacted to the impact of investment on margin recovery
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Morrisons boss hails gathering momentum as sales turn positive
Morrisons has halted declining sales in its first quarter, with CEO David Potts declaring that ‘momentum in the business is now building’
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City snapshot: Supermarket Income REIT grocery portfolio value drops by £250m amid rising rates
Supermarket property investor Supermarket Income REIT has seen the value of its portfolio drop by almost £250m over the past six months amid rising UK interest rates
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Asda owners the Issa brothers announce ‘resilient’ full year results
Owners the billionaire Issa brothers said its investments in price reductions and the launch of its Just Essentials budget range had proved a drag on profits
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City snapshot: Chapel Down sales fizz as it shifts record volumes of premium sparkling wine
English wine maker Chapel Down has registered a record year as sales of traditional method sparkling wine boomed.
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Boots posts double-digit growth after strong Christmas sales
Pharmacy chain Boots has posted double-digit growth in its second quarter, driven by strong Christmas trading and beauty sales
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Ocado Retail sales edge up on pricing and increased customer numbers
The online retailer’s first quarter revenues were up 3.4% year on year to £584m
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City News: Shares recovery at Fever-Tree on investor optimism for 2023
Fever-Tree shares are 35% down year on year and more than 55% down since the start of 2022 Fever-Tree shares jumped this week, despite a heavy fall in annual profits. Investors breathed a collective sigh of relief on assurances its profits this year would be in line ...
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City snapshot: C&C Group profits rise despite ‘challenging trading backdrop’
Drinks supplier C&C Group has announced its full year profits will be in line with revised expectations and it will recommence dividend payments despite a ‘challenging trading backdrop’
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City snapshot: Fever-Tree profits hit by soaring inflation as UK sales fall
Profits have declined at Fever-Tree as inflationary pressures squeezed margins and sales in the UK market shrank as consumers cut back spending to cope with the cost-of-living crisis. Plus, surprise jump in UK inflation as veg shortages push food prices 18% higher.
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Home Bargains revenue climbs following opening of 20 stores
Operating profit fell from £394m to £290m despite 2% rise in turnover to £3,419m
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Ella’s Kitchen growth soars as babyfood sector bounces back
Revenues soared 17.9% to £85.8m in the year ended 30 June 2022, according to newly filed accounts.
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Waitrose to expand convenience network amid declining online sales
Waitrose saw sales fall 3% to £7.3bn in the 12 months to 28 January, driven entirely by declining online sales
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Brakes losses reduced to £57.2m after post-pandemic recovery
Newly filed accounts for Brake Bros, which include its parent company Sysco’s operations in Sweden and France, showed pre-tax losses had reduced by £161m