Results – Page 14
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NewsCity snapshot: WH Smith back in the black as travel recovery takes flight
WH Smith has swung back into the black as its travel division experienced a significant recovery from the pandemic. Plus, interims from B&M and Tate & Lyle, and Q3 updates from Haleon and Domino’s Pizza.
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NewsCity snapshot: Rising costs dent M&S food profits and slowing demand pushes Ocado Retail into the red
Profits have shrunk in Marks & Spencer’s food operation and its online joint venture with Ocado fell to a loss, with the group warning that market conditions would become even more challenging next year.
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NewsCity snapshot: Record high grocery inflation sends shoppers flocking to Aldi and Lidl
Grocery price inflation has hit a new record high resulting in cash-strapped households turning to the discounters and own-label ranges to manage stretched budgets, according to the latest Kantar figures. Plus, annual results from Associated British Foods, a trading update from Hilton Food Group, a Q3 update at Coca-Cola HBC, the latest monthly data on retail sales from BRC-KPMG and consumer spending from Barclaycard, and Britvic is searching for a new CFO.
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NewsCity snapshot: Sainsbury’s sales bounce back to growth but profits slide on investment in price
Sainsbury’s has posted an improved second quarter sales performance, but profits were hit by investment in price amid soaring inflation
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NewsCity snapshot: Danone raises guidance on price-driven growth
Danone has raised its full year growth forecast after experiencing strong third quarter growth driven by a double-digit rise in pricing
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NewsCity snapshot: Unilever ups sales forecast as soaring prices boost growth
Unilever has upped it full year growth forecasts as double-digit price hikes drove strong growth in its third quarter despite falling sales volumes. Plus updates from AB InBev, C&C Group and HelloFresh.
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NewsCarlsberg upgrades earnings expectations on strong Asian growth in Q3
Carlsberg has upgraded full year earnings expectations on stronger than expected growth in key markets on volume and pricing increases in the third quarter
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NewsCity snapshot: Virgin Wines expects revenue resilience as under-pressure consumers ditch the pub
Virgin Wines is confident drinkers will ditch pubs and restaurants in favour of socialising at home as household spending is squeezed harder. Plus, Parsley Box considers AIM delisting and Heineken and Reckitt Benckiser issue Q3 results.
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NewsCity snapshot: THG’s sales slow as it agrees new lending package
THG remained in growth in the third quarter amid resilience in its beauty, health and wellness categories, though sales momentum slowed considerably in its third quarter
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NewsCity Snapshot: Deliveroo guides down sales growth as order numbers fall
Deliveroo has warned annual sales growth will come in at the lower end of previous guidance after order numbers fell in the third quarter.
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NewsCity snapshot: Naked Wines to pivot to profit focus after ‘mistakes’ chasing growth
Naked Wines has cut growth expectations and pledged to cut costs and staffing levels to prioritise the bottom line after admitting it has “made mistakes” in the pursuit of rapid growth
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NewsCity snapshot: Food prices hit 42-year high as inflation soars
Food and drink prices have soared to their highest levels in more than 40 years, pushing UK inflation back to highs seen over the summer, according to the latest figures. Plus, rising food prices help Nestlé increase organic sales in Q3, Just Eat Takeaway returns to profitability sooner than expected, and hedge fund Third Point reveals new position in Colgate-Palmolive and pushes for sale of its petcare business
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NewsCity snapshot: Poundland attracts new customers as cost-of-living crisis grows
Poundland has benefitted from cost-conscious consumers managing tight household budgets to grow sales over the past year.
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NewsCity snapshot: Greencore sales rise but rail strikes and Bank Holiday dampen recovery
Greencore has seen a strong rebound in revenues in its financial year to 30 September as on-the-go consumption returned, albeit slowed in the fourth quarter
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NewsCity snapshot: Imperial Brands launches £1bn share buyback scheme
Tobacco player Imperial Brands has announced the launch of a multi-year share buyback programme, with the intention of buying back £1bn shares by the end of September 2023. Plus a trading update from Diageo and all the rest of the latest news from the City.
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NewsCity snapshot: Tesco profits squeezed as customers ‘watch every penny’
Profits at Tesco fell back in the first half as customers faced “a tough time” but rising food prices helped Britain’s biggest supermarket grow sales.
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NewsCity snapshot: Real Good Food embarks on “radical” reforms to save turnaround attempt
Real Good Food has unveiled a radical reform programme to deal with inflationary pressures and protect its attempted turnaround. Plus, PM abandon plans to scrap top rate of tax.
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NewsCity snapshot: Science in Sport launches strategic review amid consumer slowdown
Sports nutrition specialist Science in Sport has launched a strategic review that could result in the sale of the company or assets as it warned of weaking consumer demand despite first half growth.
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NewsCity snapshot: Hot summer and off-trade reopening boost AG Barr
AG Barr has posted strong first half growth as out-of-home consumption rebounded and the soft drinks maker benefited from the warm summer weather. Plus SSP Group sees travel rebound, new interim CEO at Domino’s and all the rest of the latest news from the City
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NewsCity snapshot: UK profits plunge at Aldi as investment in price hits bottom line
Aldi suffered a near 80% drop in operating profits in 2021 as sales flatlined ahead of a strong rebound in growth in 2022. Elsewhere, Alan Jope to retire from Unilever, Sainsbury’s scraps property sale, updates and Finsbury Food Group and Chapel Down and all the rest of the latest news from the City